Polygon, Cardano, Solana NFT trading volume increased ── Ethereum decreased | coindesk JAPAN | Coindesk Japan

While the Ethereum blockchain is by far the most popular NFT underpinning, other layer 1 and layer 2 blockchains have recently seen a surge in transaction volume.

Layer 1 blockchain Cardano temporarily surpassed fourth-largest NFT trading volume, Layer 2 Polygon, earlier on April 24, according to CryptoSlam data.

Cardano’s NFT volume increased by 86% in the 24-hour period, despite slipping to sixth place behind BNB and Polygon on the afternoon of the 24th. According to CNFT.io, two projects, Goofy Gophers and Spacebudz, with over 185,000 Cardano (ADA) and about $70,000 in trading volume over the past 24 hours, appear to have driven the rise.

Blockchains such as Solana have also seen an increase in trading volume over the past seven days. Solana surged in transaction volume and unique users on April 22nd. This was largely due to the sale of Mad Lads, which were so popular that their issuance was delayed, with Mad Lads accounting for over $8 million of the $9.9 million traded on April 22nd. $9.9 million is the highest since January according to CryptoSlam, with Solana’s NFT volume up 129% over the past seven days.

Meanwhile, according to Dune’s dashboard compiled by NFT researcher Sealaunch, Polygon has also seen an increase in trading volume over the past few days. The NFT collection “Y00ts”, which recently moved from Solana to Polygon, seems to be active on the NFT marketplaces OpenSea and Magic Eden.

In the last 30D @0xPolygon NFT market had 2 days with volume above $1M.@y00tsNFT was the volume leader both on @opensea and @Magic Eden with an overall volume of ~$6,5M

Comparing to the volume total in the 30D, that’s 22% of OpenSea volume and 47% of MagicEden volume pic.twitter.com/VPRrh6Up1y

— sealaunch.xyz (@SeaLaunch_) April 21, 2023

The increase in NFT transactions on blockchains other than Ethereum reflects a decline in NFT transactions on Ethereum in recent days. According to Crypto Slam, NFT trading volume on Ethereum has fallen by 12% over the past seven days, and the number of unique users has also fallen.

While the NFT market appears to be cooling off during the prolonged “crypto winter,” there has been a short-term uptick in volumes for some collections over the past few months.

Unique users on popular NFT marketplaces like Blur, OpenSea and LooksRare fell to 7,805 on April 19, the lowest since July 2021, according to SeaLaunch’s Dune dashboard. became.

The number of transactions across the NFT marketplace also declined, reaching 16,149 on April 19, the lowest level since November 2021. There has been a slight recovery in the last few days.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Shutterstock
｜Original: Polygon, Cardano and Solana NFT Sales Rise as Ethereum NFT Sales Slump