Non-fungible tokens (NFTs) started strongly in December, with Ethereum leading the top digital collectible blockchains in sales.
On Dec. 8, NFT data tracker CryptoSlam showed that digital collectibles recorded a weekly sales volume of over $187 million in the first week of December, continuing an upward trend since October. The starting week in December surpasses digital collectibles’ strongest week in November when NFTs had a sales volume of $181 million.
Since March, NFT volumes decreased before reaching their lowest point in September, when NFTs saw their lowest monthly sales volume since 2021. However, the asset class recovered in October. This was followed by a 57% month-on-month increase as NFTs saw volumes of over $562 million in November.
Ethereum leads top NFT blockchains with $92 million sales
Ethereum recorded a weekly sales volume of over $92 million, a 44.69% increase from the previous week. The network’s volume surge was driven by top NFT collections like Pudgy Penguins and CryptoPunks, recording strong sales.
According to CryptoSlam, Pudgy Penguins recorded $25 million in sales, a 346% increase compared to the previous week. DefiLlama data shows the collection’s floor price increased from 13 Ether (ETH) on Nov. 30 to 20.9 ETH, worth about $83,000 on Dec. 8.
Meanwhile, CryptoPunks followed Pudgy Penguins, taking the top 2 spot for the week. The collection recorded a volume of $16.5 million for the week. Its floor price briefly went up to 44 ETH on Dec. 4 before returning to 40 ETH, worth about $160,000 on Dec. 8.
Top NFT collections by seven-day sales volumes. Source: CryptoSlam
Bitcoin-based NFTs followed Ethereum at the top 2 spot, recording $43.8 million in sales. Meanwhile, Solana, Immutable, Mythos Chain, Polygon, Cardano, and Flow had a combined weekly sales volume of $47 million.
Related: Nike-owned NFT wearables RTFKT to sunset in January
Ethereum price breaks above $4,000
Ethereum’s NFT surge happened amid an ETH price breakout. On Dec. 6, Ethereum surged above $4,000, reaching a high of $4,067 on Dec. 6.
An analyst believes that ETH is approaching a paradigm shift. The trader predicted that the asset would likely repeat the impulsive breakout from 2016 to 2017 when it reached a new all-time high. The analyst predicted that ETH could go as high as $15,000.
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