Ethereum NFT sales surged 43% in January

by James · February 14, 2023

Ethereum NFT sales jumped 43% in January compared to the previous month, according to CryptoSlam.

Total sales in January came to $780.2 million, comprising 267.6,000 unique sellers and 257.6,000 unique buyers, the data aggregator platform showed.

In comparison, total sales in December 2022 totaled $546.8 million – consisting of 203.8,000 unique sellers and 188.2,000 unique buyers.

The jump in month-on-month sales saw a 31% increase in unique sellers and a 37% increase in unique buyers – suggesting that interest in NFTs is rising again. However, it was noted that January’s average sale price of $372 is lower than December 2022’s average of $391.

The chart below shows an increase 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 an improvement in the NFT market, the figures for January were still significantly down from the market peak in January 2022.

At the time, monthly sales came in at $5.281 billion, consisting of 305,000 unique sellers and 450.3,000 unique buyers – with an average sale 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 average sales price is 84% below its January 2022 peak.

Interest in non-fungibles has increased in recent weeks – thanks in large part to Ordinals on the Bitcoin blockchain, but with macro uncertainty continuing to weigh heavily, it remains to be seen whether the uptick in NFT sales will last.

Ethereum remains #1 for NFTs

Ethereum remains the leading NFT platform – well ahead of its nearest competitor Solana – across sales metrics, unique sellers and buyers, and number of transactions.

Over the past 30 days, Solana’s NFT sales totaled $115.3 million, while Ethereum’s came in at $861.3 million — about seven times more.

Interestingly, sales of NFTs on ImmutableX and Aribitrum have increased during this period, growing by 45.3% and 157.6% respectively.

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