Sales of Polygon, Cardano and Solana NFTs Soar


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2023 has proven to be a volatile year for humble NFTs so far. is starting toapart from ethereum While it remains the go-to blockchain for NFT creation and distribution, data from various analytics platforms show that interest in NFTs is waning. In contrast, the demand for non-fungible tokens on other blockchains seems to be growing.

Cardano briefly surpassed Polygon as the fourth most popular platform by sales volume on April 24, according to data from NFT analytics platform CryptoSlam. period. Cardano has since returned to number 7 in terms of sales volume as of April 26, but the number of buyers and sellers on the platform has increased significantly over the past seven days, increasing by 42% and 51% respectively. It deserves attention.

Solana also saw a spike in trading volume over the past week following the release of the Mad Lads NFT collection. As of April 22, Mad Lads accounted for his $8 million out of his $9.9 million total sales recorded on the day, making Solana’s sales a whopping one in the past week. It jumped 129% as well.

Data compiled by Sealaunch, an NFT researcher using Dune analysis, shows that Polygon has also experienced positive momentum over the past few days. This may be due to his recent migration of yOOts from Solana, which has seen an increase in Polygon sales volume over the past week. Notably, yOOts makes up the majority of his NFT trading volume on Polygon on both OpenSea and Magic Eden.

Ethereum Sales Are Rocking

While Solana, Polygon and Cardano have been successful, the Ethereum situation is less optimistic. Blockchain transaction volume has fallen by more than 7% over the past week, and the number of transactions on the network has dropped by 18% over the same period. The drop is particularly concerning as the NFT market is already showing signs of slowing during the long crypto winter.

The impact of this slowdown is being seen on a larger scale, as unique user counts for top NFT marketplaces such as OpenSea, Blur, and LooksRare have dropped significantly. That number has fallen to 7,805 as of his April 19th, according to SeaLaunch data, the lowest point since July 2021.

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Conor the Tech Veteran
He previously spent 6 years publishing research on tech stocks, and believes in using a combination of fundamental, technical, and quantitative analysis. Prior to a career in tech stocks journalism he was a technology and semiconductor analyst with a research team.

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