Cardano Nears Top 10 Networks in NFT Trading Volume
Date: 2024-01-22 Author: Dima Zakharov Categories: BLOCKCHAIN
Cardano's Impressive NFT Trading Surge
Cardano, the blockchain platform known for its sustainability and innovation, is witnessing a remarkable growth in NFT trading. Recent data reveals an impressive 18.08% surge in Cardano's sales volume, pushing it just outside the Top 10 networks with a total trading volume of $190,754.
Ethereum Maintains Its Lead
While Cardano is on the rise, Ethereum continues to dominate the NFT market with a staggering $18 million in sales volume, showcasing a 17.97% increase. Ethereum's enduring leadership underscores its stronghold in the NFT ecosystem.
Solana Slips to Second Place
Solana, which held the second position, experienced a significant drop in sales, plummeting by 29.61% to $7.9 million. This downturn positions Cardano as a formidable contender for the second spot.
Bitcoin's NFT Sales Decline
Bitcoin, primarily recognized as a digital currency rather than an NFT platform, witnessed a 5.06% decrease in NFT sales, further highlighting the competitive nature of the NFT market.
Rising Stars: Mythos and Flow
Smaller networks like Mythos and Flow have made significant strides, with the latter witnessing a remarkable 34.57% increase in sales volume. These emerging networks are gaining attention in the NFT space.
Top NFT Collections
Ethereum's Cryptopunks lead the pack with a staggering $4.5 million in sales, despite a slight increase in transaction activity. Solana also experienced a surge of 65.74% in cryptocurrency sales, indicating growing collector interest.
Other collections, such as Dokyo by Avalanche and Bitcoin Untitled Ordinals, also showcased substantial trading volumes. ImmutableX Gods Unchained card sales reached an impressive $683,975.
The blockchain industry's dynamic NFT landscape continues to evolve, with Cardano emerging as a prominent player. Keep an eye on Cardano as it strives to secure a spot among the Top 10 networks in NFT trading volume.
