Based on the most recent figures, non-fungal tokens (NFTs) generated around $ 474 million in sales during May, which marked a decrease of 21.25% compared to the total of April.
NFT -Market drops in May
NFT -Sales maintained their downward process in May, with monthly figures with $ 127.9 million compared to the previous month. Although the number of NFT buyers with 16.45% climbed and sellers with 1.57% were, based on data from Cryptoslam.io, the total sale told a different story. NFTS established on Ethereum, with a turnover of $ 140.39 million, accounting for around 29.63% of the total volume of May.
Source: Cryptoslam.io
Despite the charts at the top, Ethereum NFTS placed a decrease of 20.97% compared to April. Bitcoin claimed second place with $ 74.51 million, which reflects an increase of 20.16% compared to the previous month. Polygon followed in third place with just over $ 73 million, although this figure represented a decrease of 47.38%. Avalanche placed the sharpest growth, rising 1208.40% in May by $ 31.21 million in volume, largely fed by the launch of Xsy deposit by Xsy.
Top five block chains in terms of NFT sales in May. Source: Cryptoslam.io
Polygon’s Courtyard Collection led all others in May, with a turnover of $ 59.51 million. Close behind was Darket of the Polkadot-based mythos project, which resulted in around $ 39.32 million. Xsy Deposit was third secured with $ 30.25 million. Under the top ten collections, Doodles achieved the most dramatic profit, jumped 226.54% and attracted $ 8.68 million a month.
Ethereum remains the dominant chain in terms of lifelong NFT sales, which is after the update of May $ 45.77 billion. Solana follows with $ 6.34 billion, while Bitcoin is third with $ 5.4 billion. However, because BTC NFTs is a more recent addition, Bitcoin could possibly surpass the layer one chain this year if the momentum continues. It follows Solana with only $ 940 million. Bitcoin also follows Ethereum with $ 40.37 billion.