NFTs Reverse 7-Month Trend As Solana Rallies

In October, non-fungible tokens (NFTs) reversed a seven-month decline, seeing an 18% increase in trading volume. Since March, when NFT monthly volumes reached $1.6 billion—their highest in 2024—the market had been trending downward, hitting its lowest monthly volume since 2021 in September. According to CryptoSlam, NFT volume in September 2024 was around $300 million, marking a 20% decrease from August. However, NFT sales volume showed some recovery in October, reaching $356 million, an 18% increase month-over-month. NFT transactions also surged, with October recording 7.2 million transactions, a 42% rise from September’s 5 million. In addition, NFT weekly volumes hit a