Polygon Outpaces Solana in NFT Transaction Volume Over the Past 24 Hours
In a surprising turn of events within the blockchain landscape, Solana, a prominent blockchain platform, has witnessed a significant decline in its NFT sales volume, trailing behind its competitive counterpart, Polygon. According to the latest data, Solana’s NFT transaction volume has dropped by 17.17%, generating revenue of 4.5 million USD.
This decline stands in stark contrast to the remarkable surge in activity observed on Polygon, marking an 84.94% increase in transactions and reaching revenues of 9 million USD.
The NFT market is currently experiencing dynamic shifts, with Ethereum maintaining its leading position by generating revenues of 13.4 million USD, reflecting a notable 29.65% increase in its activity.
Conversely, Bitcoin, traditionally less associated with NFT transactions, has remained relatively stable, amassing revenues of 13,016,115 USD despite a decrease of 18.52%.
Analyzing the 30-day transaction volume data for NFTs, Bitcoin demonstrates dominance with a volume nearing 872.7 million USD, closely followed by Ethereum at over 709.7 million USD.
Solana and Polygon also display considerable activity, with respective total transaction volumes of around 334 million USD and 99.4 million USD.
December 2023 witnessed a surprising turn of events when Solana unexpectedly led in monthly NFT sales. Solana’s NFTs, valued at around 366.5 million USD, outpaced Ethereum’s 353.2 million USD.
- OpenSea Faces Stiff Competition From Blur In The NFT Marketplace
- Ethereum’s Blue Chip NFT Market Faces 38% Month-Over-Month Decline In September