Polygon Surpasses Ethereum In Daily NFT Sales Volume

Polygon, an Ethereum scaling solution network, continues flourishing despite the ongoing general crypto bear market. For the second time in crypto history, Polygon has surpassed Ethereum, Mythos, and Solana blockchain networks in terms of daily non-fungible token trading sales volume. In the past 24 hours, the Polygon-based NFT collections have recorded a trading sales volume of $2.8 million.

Polygon Overtakes ETH In Daily NFT Sales Volume

Data compiled by cryptoslam.io, an on-chain crypto market data aggregator and a multi-chain non-fungible token collection explorer, indicates that Polygon has overtaken other leading NFT blockchain networks, including Ethereum, Mythos Chain, Solana, and Immutable, in daily trading sales volume. In the past 24 hours, the Polygon-based NFT collections have raised a trading sales volume of $2.8 million.

Ethereum, the blockchain network renowned in the NFT market for powering most of the top NFTs, is today’s second most-traded blockchain network in the NFT market. In the past 24 hours, the Ethereum-based NFT collections have amassed a trading sales volume of $2.6 million. During this time, the Ethereum NFT trading sales volume has plunged by 71% from the previous day.

Mythos Chain, the blockchain network ensuring secure and efficient transactions in the Mythos gaming ecosystem, is today’s third most-traded blockchain network in the NFT market. In the past 24 hours, the Mythos Chain-based NFT collections have recorded a trading sales volume of $2.1 million. During this time, the Mythos Chain NFT sales volume has plunged by 2.09% from the past day.

Immutable and Solana are today’s fourth and fifth most-traded blockchain networks in the NFT market. In the past 24 hours, Immutable-based NFT collections have amassed a trading sales volume of $1.2 million, while Solana-based NFT series have recorded a trading sales volume of $1.1 million. During this time, Immutable and Solana NFT trading sales volumes have surged by 208% and 67%, respectively.

Factors Fueling Polygon’s NFT Growth

Courtyard, a non-fungible token collection consisting of a limited edition of 80,461 NFTs living on the Polygon blockchain network, is the main contributor to the Polygon NFT market growth. In the past 24, the Courtyard NFT collection has raised a trading sales volume of $2.5 million. During this time, the Courtyard NFT trading sales volume has surged by 1.54% from the previous day. The Courtyard NFT collection has contributed over 80% of the total Polygon sales volume.

Source: cryptoslam

Nonetheless, this is not the first time Polygon has surpassed Ethereum in daily NFT trading sales volume. In January 2024, Polygon overtook Ethereum and other blockchain networks in terms of daily NFT sales volume. At the time, the driving force behind the Polygon NFT boom was the Gas Hero Common Heroes, a non-fungible token collection from the Web3 game Gas Hero. This NFT collection amassed a trading sales volume of over $3 million.

Polygon has flipped Ethereum for 24 hour NFT Volume..🤯 pic.twitter.com/54Fm5msv2t

— Reece (※,※) (@0xReecey) January 7, 2024

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