The NFT market has rebounded after a prolonged downtrend

The NFT market has experienced a significant recovery following a prolonged period of decline. The latest analytical report by Nansen reveals that there has been a substantial increase in NFT sales.

In the first week of October, the sales reached a total of 29,704 ETH, and this number escalated to 68,342 ETH by the beginning of November. Such a surge indicates a strong bullish trend in the market.

This positive trend not only signifies a renewed sense of confidence among traders but also attracts more artists and collectors to join NFT platforms.

Ethereum continues to dominate the NFT trading volume, experiencing a remarkable 50% increase. Immutable X follows closely in second place with a trading volume of $22 million, while Gods Unchained, Cross the Ages, and Illuvium secure their positions in the rankings as well. Solana, on the other hand, witnessed a notable 15% growth in its trading volume, rising from $24 million to $27.6 million.

In terms of sales volume, the most successful NFT collections in October were BAYC with $54 million, DeGods with $51.9 million, and MAYC with $34.3 million. Notably, The Captainz experienced the most significant surge in sales volume since September, with an impressive growth rate of 140% from $2.8 million to $6.8 million.

Furthermore, the gaming sector also witnessed a significant boost, with a 17% increase in active players, resulting in a total of 1.7 million unique active wallets. DappRadar predicts that the consistent interest in games will continue to drive the growth of the entire NFT market.