NFT Trading Volume Approaches $1B as Market Turns Bullish: Report

The average value of NFT transactions increased 114% from $126 to $270 in November. The DApp Radar report highlighted that the NFT industry continues its upward momentum for the second consecutive month.

Nominal transaction volume increased by 125% in the observed month, indicating a positive change in users’ behavior compared to previous declines in NFT trading. In addition to the increase in trading volume, the average NFT transaction value also increased by 114%, rising from $126 in November to $270.

One month ago, on November 6, analytics firm Nansen reported that NFT sales continued to grow weekly back in October. NFT sales had grown steadily, from $56 million in the week ended October 9 to $129 million in the week ended November 5.