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.
in the last 30D @0xpolygon The NFT market recorded over $1 million in trading volume in two days.@y00tsNFT was the volume leader in both @high seas and @Magic Eden ~$6.5 million total volume
Compared to the total volume of 30D, it is 22% for OpenSea volume and 47% for MagicEden volume. pic.twitter.com/VPRrh6Up1y
— sealaunch.xyz (@SeaLaunch_) April 21, 2023
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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*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly researched

Basil is an avid fan of blockchain technology and all its innovations, and is passionate about sharing this story with his audience. He has spent over five years in the crypto space, specializing in research and creating his Web3 content for various media outlets around the world.
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