Ethereum NFT sales increased 43% in January compared to the previous month, according to CryptoSlam.
Total sales in January were $780.2 million, which included 267.6 thousand unique sellers and 257.6 thousand unique buyers, the data aggregation platform presented.
For comparison, total sales in December 2022 amounted to $546.8 million, consisting of 203.8 thousand unique sellers and 188.2 thousand unique buyers.
The jump in month-over-month sales saw a 31% increase in unique sellers and a 37% increase in unique buyers, suggesting a resurgence of interest in NFTs. However, it was noted that the January average sales price of $372 is lower than the December 2022 average of $391.
The chart below shows an upward trend in sales (black line) that peaked on January 18 at $43.9 million. This was the highest sales day since May 20, 2022, when sales reached $44.3 million.
A long way to go
Although the data points to a recovery in the NFT market, the January figures were still significantly below the market peak in January 2022.
At that time, monthly sales were $5.281 billion, made up of 305,000 unique sellers and 450,300 unique buyers, with an average sales price of $2,388.
As such, year-over-year sales are down 85%, unique sellers and unique buyers are down 12% and 43%, respectively, while the median sales price is 84% below the January 2018 peak. 2022.
Interest in non-expendables has increased in recent weeks, largely thanks to ordinals on the Bitcoin blockchain. However, with macro uncertainty still weighing heavily, it remains to be seen if the increase in NFT sales will continue.
Ethereum is still number 1 for NFTs
Ethereal It remains the leading NFT platform, far surpassing its closest competitor, Solana, in sales metrics, unique sellers and buyers, and the number of transactions.
Over the past 30 days, Solana’s NFT sales amounted to $115.3 million, while Ethereum’s came in at $861.3 million, around seven times as much.
Interestingly, during this period, NFT sales on ImmutableX and Aribitrum increased by 45.3% and 157.6%, respectively.
