Non-fungible tokens (NFTs) experienced a significant weekly sales volume of $181 million, marking a 94% increase from the previous week’s $93 million. This surge in sales is largely attributed to the bullish trend in the cryptocurrency market, which has seen substantial gains. Over the past week, the Ethereum network led the sales with $67 million, a 111% rise, while Bitcoin-based NFTs recorded $60 million in sales, a 115% increase. Other blockchains such as Solana and Polygon collectively contributed $45.5 million. Additionally, the average value of an NFT sale rose to $133.08, up 87% from $71.11 the previous week. The renewed sales momentum is also reflected in NFT transaction counts, which reached 7.2 million in October, a 42% increase from September. Overall, the NFT market has broken a seven-month downturn in monthly sales as cryptocurrency values soar, particularly Bitcoin, which recently hit an all-time high of $93,477.

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