While the Ethereum blockchain is still the most popular option for creating non-fungible tokens (NFT), sales of NFT have recently increased slightly on other layers one blockchain and layer two networks.
The layer one blockchain Cardano, whose token is ADA, briefly surpassed the Ethereum scaling platform Polygon early on Monday, according to data from CryptoSlam, to become the fourth-most popular blockchain by NFT sales volume.
According to Crypto Slam, as of Monday afternoon, Cardano had dropped back to sixth place, behind BNB and Polygon, even though its sales had increased by 86% the previous day. According to CNFT.io, two projects, Goofy Gophers and Spacebudz, have generated more than 185,000 ADA (about $70,000) in trading volume over the last 24 hours, which appears to have driven the increase.
Over the last seven days, sales volume has increased for other blockchains, including Solana (SOL). On April 22, Solana saw an increase in sales, unique buyers, and unique sellers, mostly due to the introduction of Mad Lads, whose mint was delayed due to great demand. According to Crypto Slam, the wild Dash for the Wild Lads contributed more than $8 million of the $9.9 million sales on April 22 — a high not seen since January. Over the last seven days, Solana’s sales volume has increased overall by 129%.
Meanwhile, a Dune dashboard created by NFT researcher Sealaunch shows that Polygon has seen an increase in sales volume over the past few days. Most of the OpenSea and Magic Eden activity has been driven by NFT collection Y00ts, which recently moved from Solana to Polygon.
While Ethereum NFTs have decreased recently, NFT sales on other blockchains have increased. According to Crypto Slam, the number of sales on Ethereum has decreased by 12% over the last week, and there have also been fewer individual buyers and sellers.
A few collections during the previous six months have caused temporary increases in trading, suggesting that the overall NFT market has cooled amid an extended crypto winter. The number of unique users across the biggest NFT marketplaces, including Blur, OpenSea, and LooksRare, dropped to 7,805 on April 19, a low not seen since July 2021, according to a Dune dashboard by SeaLaunch. According to the same Dune data, there were 16,149 sales throughout NFT marketplaces on April 19, a substantial decline from the previous day. When sales were last that low, it was in November 2021. The past several days have seen a minor improvement in the numbers.