October has been a roller coaster month in blockchain and Decentralized Finance (DeFi). The month has already marked one of the year's biggest highlights as the crypto market has seen mixed interest from users, especially institutional investors.

While Bitcoin is already hitting all-time highs and having all the fun, it is also important to look at crypto’s favorite cousin, non-fungible tokens or NFTS, as they are more commonly known. 

After a several-month-long NFT winter spell, some good news has finally arrived. Ayo Creator, a famous crypto influencer and CEO of Pictodl, shared a tweet that showed huge progress for the NFT world. 

According to the X post, NFTs rebounded in October, with a monthly volume of $356 million.  While it may not look big at first glance, the revenue was 18% bigger than the previous month. The report also indicated that total NFT transactions surged to 7.2 million, a 42% rise and a big pointer to the end of the long and dreary NFT winter. 

Another report from AMBCrypto also analyzed the performance of different blockchains in October in that space. Their analysis of the Ethereum blockchain through data from CryptoSlam showed that Ethereum’s number of buyers only increased by 3% last month. 

The rest of the metrics discovered were also a bit concerning. Ethereum’s sales volume decreased by 33%, while the blockchain’s monthly number of transactions dove by 60%. Solana also took hits as its sales volume crashed 22% while its number of transactions dropped 18%. SOL also recorded a 25% drop in NFT buyers and a 17% crash in the number of sellers. 

Even Bitcoin, the biggest of the Big Three, saw similar losses in its metrics, showing that none of the top chains contributed much to the rise of NFT in October. According to data from DappRadar, Bored Ape Yacht Club was Ethereum’s top performer, Frogana topped Solana’s list, and Bitcoin Puppets ranked the highest performer for BTC in the last 30 days. 

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Source: CryptoSlam

In other news, however, the Cryptopunks collection has dominated the NFT market, now having a 30.9% market share across the top collections. It ranked highest after surpassing the Bored Ape Yacht Club (BAYC) in May 2023. 

CryptoPunks also holds the record as the only NFT collection to have recorded a 10.0 percentage point dominance boost in a single year after reaching 33.6% from 23.6% at the start of 2023. Even though the pixelated collection has lost a slight level of dominance since the year started, it remains the largest collection with a market share above 29.5%.

The dominating collection is also one of only two NFT collections that have consistently ranked in the top 10 by monthly average market cap from 2022 to date, a record it holds jointly with the Bored Ape Yacht Club.

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