Categories: MarketsMenafn

Q4 2023 NFT Trading Volume Shows Growth

The week of Dec.11-17, 2023, marked the most profitable period not only for Q4 2023 but for the entire year, with NFT sales surging by $576.58 million.

According to CryptoSlam data, the global sales volume of the non-fungible token (NFT) segment increased during Q4. On Nov. 6, 2023, sales totaled $215.20 million, with 196,754 unique buyers and 165,172 sellers.

Those figures experienced a further increase on Dec. 25. Sales surged to $322.15 million, and the number of buyers and sellers rose to 372,735 and 254,609, respectively.

NFT global sales volume change. Source: CryptoSlam

During that same week, overall NFT sales soared to $576.56 million, with an average sell price of $207.37.

NFT market data by week. Source: CryptoSlam

Will the NFT market resume growth in Q1 2024?

Gas Hero’s Pets collection, developed as a project for web3 games, is demonstrating notable growth in early 2024. Over the last 24 hours, sales have surged by 262%, reaching $140,872, and the number of buyers has increased to 433, marking a significant rise of 179%. It’s worth noting that this collection was only launched in January.

Gas Hero Pets collection. Source: Mooar

Mochimons is another recently introduced collection comprising 3,333 NFT cats. According to OpenSea, average price sales were at 0.3595 Ethereum (ETH) on Jan. 23 when the collection was initially launched. The subsequent day saw a notable increase, with the figure rising to 0.7573 ETH.

Mochimons sales history, Source: OpenSea

The growing interest in brand-new NFT collections suggests a renewed enthusiasm within the market.

According to analysts at Coin99, in the fourth quarter, the Bitcoin blockchain secured the top position in NFT sales volume, reaching $1.27 billion. The success of Ordinals seemingly continues despite growing developer criticism. Ethereum followed closely in second place with $881 million, while Solana claimed the third spot with $477 million.

https://twitter.com/Coin98Analytics/status/1745788568713535999?ref_src=twsrc%5Etfw” target=”_blank” rel=”noopener

Based on data provided by CoinGecko, the trading volume of NFTs in 2023 has declined, amounting to $11.8 billion. This figure is nearly half of the NFT trading volume recorded in the previous year, totaling $26.3 billion in 2022. Establishing a market recovery throughout 2024 will be challenging, but it’s not impossible.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

Synapse Power Opens Contributor Access to Build the Future of Decentralized AI Compute

Synapse Power invites global participants to contribute computing power to its GPU network—powering the next…

2 hours ago

Franklin Morgan & Associates Successfully Represented in DIAC Arbitration for $113M Award

New York, NY, 1st August 2025, Franklin Morgan & Associates is proud to announce that…

14 hours ago

Mint Miner Launches XRP Cloud Mining Contracts, Opening a Low-Entry, High-Yield Model

New York, USA, 1st August 2025, ZEX PR WIRE, Mint Miner, the world’s leading intelligent cloud mining…

14 hours ago

Moonshot MAGAX Presale Goes Live — Built for Virality, Fueled by Community

California, USA, August 1, 2025, After months of building behind the scenes, Moonshot MAGAX  is…

14 hours ago

Find Mining Rises to the Trend: A Mass Mining Revolution in the $4 Trillion Market

Combining cloud computing with artificial intelligence, Find Mining delivers a secure, efficient, and transparent way…

14 hours ago

XRP has surpassed the $3.60 mark, and Ripplecoin mining allows holders to easily cash in their daily gains.

XRP Enters a Key Breakout Window; Ripplecoin Mining Helps You Start a Crypto Cash Flow…

14 hours ago