Polygon’s NFT sales volume surpasses Bitcoin (BTC) and Solana (SOL) as the non-fungible token (NFT) market gains momentum.
According to data from CryptoSlam, total NFT sales increased 27% to $18.21 million over the past 24 hours. This increase comes while the total number of transactions fell by 7% and currently stands at 351,319.
This move could indicate increased whale activity in the NFT sector.
NFT Sales Volume by Blockchain – July 10 | Source: CryptoSlam
Furthermore, Ethereum (ETH) has been leading the NFT scene since late May. According to data from CryptoSlam, NFT sales volume has increased by 24% in the past day and is currently hovering at $5.1 million.
You might also like: BlackRock’s IBIT ETF holds $18 billion in BTC amid continued inflows
Polygon overtook Bitcoin and Solana again after a 173% rally in its NFT trading volume. Data shows that Polygon’s NFT sales crossed the $4 million mark for the third time this year – first in January and second on July 3.
Solana took first place with $3.9 million in NFT sales, up 50% in the last 24 hours. Notably, Solana is the only blockchain on this list with a higher number of buyers, up 62% and currently 20,946 unique buyers.
According to data from CryptoSlam, the number of NFT sales on the Bitcoin network increased by just 11% in the past day to $2.7 million. Currently, Bitcoin has the least wash trading volume of the four leading blockchains – only about $23,000.
Notably, monthly NFT sales have been steadily declining since March this year – from $1.6 billion on March 1 to $127 million on July 1.
Read more: Spot Ethereum ETF Approval Looms: Two Reasons to Avoid
