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REGULATION
by
1 month ago

NFT sales surge 18% in October, reaching $356 million amidst prolonged downtrend

2024-11-03

REGULATION
by
1 month ago


In a surprising uptick, non-fungible token (NFT) sales rose to $356 million in October 2024, marking an 18% increase over the previous month’s $303 million in sales.

 

This boost has provided a momentary lift in a market that has faced a steady decline over the past several months, following a record-breaking boom earlier in the year.


 

www.cryptoslam.io/nftglobal


Since May 2024, NFT sales have consistently fallen below the $1 billion mark, signaling a cooldown from the surge experienced between December 2023 and April 2024, when monthly sales regularly exceeded $1 billion.

 

Analysts suggest that while October’s growth is a positive sign, the market needs to return to a monthly volume of over $1 billion to re-energize interest and investment in NFTs.

 

If NFT monthly sales volume increase close to $1 billion, this figure can offer some optimism for collectors, creators, and platforms hoping for a resurgence.

 

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