Binance Research: NFTs witnessed turnaround in November, reversing year long downward trend
A new research report from Binance highlights that the NFT market experienced an upswing in November, marking a turnaround from its year-long downturn with a sales volume of $0.91 billion. These numbers highlight a 200% month-over-month increase, the most substantial growth seen in 2023 so far. Bitcoin NFTs dominate The research report shared with crypto.news on Dec. 4 points to indicators of this recovery, including Nansen’s NFT-500 Index and the Blue Chip 10 Index, showing reduced year-to-date declines at 49% and 43%, respectively, showcasing improvement from the previous month’s 58% and 50%. Binance also attributes the resurgence in NFT sales to the prominence of Bitcoin NFTs. The $SATS collection, featuring individual satoshis with unique identifiers, is among the standouts with 1,039% month-over-month growth in sales volume, surging to $93 million. You might also like: Vitalik Buterin NFT collection triggers surge in Ethereum gas fees This figure is...