November NFT sales volume hits yearly low

The slump in the NFT market is deepening, with monthly sales volume hitting its lowest level of the year in November, Cointelegraph reported. Citing data from CryptoSlam, the report noted that NFT sales last month totaled $320 million, a 66% decrease from January. Furthermore, sales from Dec. 1 to 7 amounted to only $62 million, marking the smallest weekly volume recorded this year. Cointelegraph suggested that the downturn is likely to persist for the foreseeable future amid a general decline in NFT prices.