The non-fungible token (NFT) market made a surprising recovery in October 2024, ending a seven-month decline. According to CryptoSlam data, NFT sales reached $356 million, an 18% increase from September’s record low of $300 million. Despite a general downturn since the peak of $1.6 billion in March, October’s figures offer a glimpse of renewed interest in digital collectibles.
Transactions Surge, Led by DMarket and Guild of Guardians
October also saw a significant increase in transaction numbers, reaching 7.2 million—a 42% jump from September’s 5 million transactions. The Mythos Chain-based collection, DMarket, led the market with $33 million in sales over the last 30 days. Following closely was Guild of Guardians Heroes, an Immutable-based collection, with $13 million. Classic collections on Bitcoin and Ethereum, such as Bitcoin Puppets, Bored Ape Yacht Club, and CryptoPunks, also maintained high volumes.
NFT collections with the most sales volume in the last 30 days. Source: CryptoSlam
Solana’s All-Time NFT Volume Approaches $6 Billion
Solana-based NFTs have also been significant players, collectively reaching $67 million in sales in October and contributing 19% to the overall NFT volume for the month. Popular Solana collections like DogeZuki, Froganas, and Retardio Cousins achieved nearly $25 million in combined sales, pushing Solana’s all-time NFT volume to almost $6 billion. Solana remains the second-highest blockchain in total NFT sales volume, trailing only Ethereum.
Weekly Volumes Show Promising Growth
October saw the NFT market’s strongest weekly performance since August, with sales exceeding $84 million between 30 September and 6 October. This boost suggests that buyer interest may be reviving, though sustainability remains uncertain.
Blockchains by all-time NFT sales volume. Source: CryptoSlam
With growing transaction numbers and active interest across multiple blockchains, the NFT market may be on the cusp of recovery, driven by top collections and platforms like Solana and Ethereum.
