In the past week, the NFT market has demonstrated a strong development trend. Data shows that the transaction volume of the NFT market has increased significantly by 17.16% to 130.7 million US dollars. This figure indicates that the NFT market is gradually regaining vitality and attracting more investors’ attention. Meanwhile, the growth rate of NFT buyers is even more astonishing, reaching as high as 138.96%, with 259,264 people. This reflects that the market demand for NFTS is constantly rising, and more and more participants are beginning to get involved in this field. The number of NFT sellers has also seen a significant increase, reaching 137,347 after growing by 98.69%, which indicates a substantial rise in market activity and a strong trading willingness from both buyers and sellers. The number of NFT transactions was 1,498,668, further confirming the frequency of market transactions.
Judging from the performance of various blockchains in the NFT trading market, Ethereum still holds a dominant position. Its transaction volume was 41.3 million US dollars, an increase of 21.47% compared with the previous week. Ethereum has long held an important share in the NFT market, thanks to its mature ecosystem, rich application scenarios and abundant developer resources. Many well-known NFT projects are issued based on the Ethereum network, and its smart contract function provides reliable technical support for the creation, trading and ownership confirmation of NFTS.
The performance of the Bitcoin chain was equally outstanding, rising to the second place with a transaction volume of 22.6 million US dollars, an increase of as high as 53.53%. Since Bitcoin introduced the Ordinals protocol, a new era of Bitcoin NFTS has begun. The strong brand effect and huge user base of Bitcoin itself provide strong support for the development of its NFT ecosystem. More and more developers and artists have begun to explore NFT creation and trading on the Bitcoin chain, driving the rapid growth of NFT trading volume on the Bitcoin chain.
Polygon’s trading volume was 14.5 million US dollars, but unlike the growth trend of other blockchains, its trading volume dropped by 22.85%. Although Polygon has always been committed to building efficient and low-cost blockchain solutions and has had outstanding performances in the NFT market, in the past week, it may have been affected by various factors such as intensified market competition and changes in project popularity, which led to a decline in its NFT transaction volume.
Mythos Chain ranked fourth with a transaction volume of 13.3 million US dollars. Although there is relatively less public information about Mythos Chain, achieving such results among numerous blockchains indicates that it also has unique competitive advantages and user groups in the NFT field.
Solana ranked fifth with a transaction volume of 8.9 million US dollars, an increase of 17.31%. Solana has attracted many users and projects in the NFT market with its technical features of high throughput and low transaction fees, who have high requirements for transaction efficiency. Its ecosystem is constantly evolving, with new NFT projects and applications emerging continuously, injecting impetus into the growth of Solana’s NFT transaction volume.
Overall, the NFT market has witnessed a prosperous development over the past week, with each blockchain performing its own strengths in the NFT trading field. With the continuous development of the market, the NFT market is expected to achieve more breakthroughs in technological innovation and application expansion in the future, attracting more funds and participants to enter, and further promoting the prosperity of the industry.
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