The NFT market is showing signs of life, with November sales reaching $562 million—a 57.8% increase from October and the highest monthly figure since May, according to CryptoSlam. While still far from the March 2024 peak of $1.6 billion, this surge marks a significant recovery after a prolonged slump.

Leading the charge was the iconic CryptoPunks collection. Its floor price soared by 52% in November, jumping from 26.3 ETH to 39.7 ETH ($147,000). Sales volumes for CryptoPunks hit $49 million, a staggering 392% month-on-month increase, with transaction counts up 213%. Pudgy Penguins also had an impressive run, recording a $16 million monthly sales volume—a 262% jump—while its floor price climbed 49% to 13 ETH ($48,000).

Ethereum remains the top network for NFT sales, generating $216 million in November, up 12% from October. Bitcoin, however, posted the most dramatic gains among major blockchains, with a 99.44% spike, bringing its sales to $186 million. Other blockchains, including Solana, Mythos Chain, Immutable, Polygon, and BNB Chain, collectively accounted for $162.9 million in sales.

As the NFT market rallies, the combination of rising floor prices and increased transaction volumes hints at renewed investor confidence. Whether this momentum will carry through to the next quarter remains to be seen, but November’s figures show the sector may be poised for a rebound.