Top NFT Blockchains by Trading Volume
NFT
The newest NFT report by DappRadar exhibits that Ethereum’s dominance of the NFT market on the subject of NFT gross sales has slipped to only 5.7%. DappRadar additionally highlighted that the drop in Ethereum’s NFT gross sales dominance exhibits that the blockchain is primarily utilized by the NFT aristocracy.
The report reveals that Solana is true behind Ethereum, bagging the second spot with a buying and selling quantity of $22.7 million. The Solana blockchain represents 6.7% of the overall NFT buying and selling quantity. It additionally has a 13% share of complete NFT gross sales.
With a outstanding buying and selling quantity of $18.2 million and a formidable 26.9% dominance in NFT gross sales, Polygon has solidified its place as essentially the most outstanding blockchain by way of gross sales rely.
This achievement is a testomony to Polygon’s latest strategic selections, because it has develop into the popular selection for quite a few Internet 2.0 initiatives aiming to launch NFT initiatives at a low entry worth. Moreover, Polygon’s ecosystem features a multitude of video games incorporating NFT mechanics, equivalent to Planet IX, The Sandbox, and Oath of Peak.
Polygon has additionally emerged as the preferred blockchain in 2023 up to now. The information from NFT Knowledge exhibits that Polygon’s recognition went up from 23% in 2022 to 41% in Q1 2023. This has additionally attracted some notable trade gamers, together with Nike, Reddit, and Starbucks.
The DappRadar knowledge additionally confirmed that NFT gross sales may drop under $1 billion in Might. In response to the info, the buying and selling quantity presently stands at $333 million from 2.3 million gross sales.
