**Bitcoin Takes Top Spot in NFT Sales Surge**
*NFT sales reach close to $1 billion in November*
In November, the world of non-fungible tokens (NFTs) experienced a surge in sales, reaching close to $1 billion in transactions, with a whopping 129.01% increase compared to October. This surge saw NFTs created on the Bitcoin blockchain surpassing those on Ethereum in terms of sales, marking a significant shift in the market.
### NFT Sales Surge
The total sales figure for NFTs in November amounted to $944.33 million, representing a slight increase compared to the previous month. Despite this surge, there was a decline in buyer and seller participation, with a 20.16% decrease in buyers and an 18.90% decrease in sellers, according to statistics from cryptoslam.io.
### Bitcoin Surpasses Ethereum
A notable highlight was the shift in sales from Ethereum to Bitcoin, with BTC-based NFT sales reaching $382.88 million, surpassing Ethereum’s sales by $20.32 million. This marked a significant 1,928.65% surge in Bitcoin-based NFT sales compared to the previous month, while Ethereum’s sales also grew by 57.28%.
### Top Performers
In addition to Bitcoin and Ethereum, other blockchains also saw significant movements in NFT sales. Solana’s NFT sales experienced a boost of 190.11% to reach $86.99 million, while Polygon saw a decrease of 33.90%, and Mythos experienced a 30.32% drop in sales volume.
### Top Collections
In terms of NFT collections, BTC led with the “$SATS BRC-20” collection, amassing $93.44 million, a 974% increase from the previous month. Ethereum’s Bored Ape Yacht Club (BAYC) ranked third in November with sales of $43.36 million, and Cryptopunks claimed the fourth spot with $29 million in transactions.
### Record-Setting Sales
The most expensive NFT sold in November was from the Ethereum blockchain. The “Uniswap V3 Positions NFT-V1 #14” was purchased for a substantial $1.66 million. Additionally, a “$BTCS BRC-20” NFT fetched $376K, and the “Voting Token Lockup #3” from Arbitrum achieved a sale price of $300K.
### Bitcoin Dethrones Ethereum
The surge in sales of NFTs on the Bitcoin blockchain and the surpassing of Ethereum in terms of total sales in November mark a significant shift in the market. This shift can be attributed to the marked rise in Ordinal inscription minting and trading activities on the Bitcoin network in recent times.
In light of these record-setting NFT sales, the community is buzzing with discussions about the implications of Bitcoin dethroning Ethereum in terms of NFT sales. What are your thoughts on this market shakeup? Let us know in the comments section below.
I have been writing about crypto for over two years. I have a vast amount of experience in the industry and my work has been featured on some of the biggest publications in the space.
