Top NFT Blockchains by Trading Volume


19 Could 2023 10:44, UTC


Studying time: ~2 m

The most recent NFT report by DappRadar exhibits that Ethereum’s dominance of the NFT market with regards to NFT gross sales has slipped to simply 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 whole NFT buying and selling quantity. It additionally has a 13% share of whole 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 depend.

This achievement is a testomony to Polygon’s latest strategic choices, because it has develop into the popular selection for quite a few Net 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, comparable to Planet IX, The Sandbox, and Oath of Peak.

Polygon has additionally emerged as the preferred blockchain in 2023 thus far. 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 might drop under $1 billion in Could. In response to the info, the buying and selling quantity at the moment stands at $333 million from 2.3 million gross sales.

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