Polygon’s NFT sales volume surpasses Bitcoin (BTC) and Solana (SOL) as the non-fungible token (NFT) market gains momentum.
According to data provided by CryptoSlam, the total NFT sales increased by 27% in the past 24 hours, reaching $18.21 million. The surge comes while the total number of transactions declined by 7%, currently sitting at 351,319.
This movement might show heightened whale activity in the NFT sector.
NFT sales volume by blockchain – July 10 | Source: CryptoSlam
Moreover, Ethereum (ETH) has been leading the NFT scene since late May. Per CryptoSlam data, the NFT sales volume increased by 24% over the past day and is currently hovering at $5.1 million.
You might also like: BlackRock’s IBIT ETF holds $18b in BTC amid continuous inflows
Polygon overtook Bitcoin and Solana again after seeing a 173% rally in its NFT trading volume. Data shows that Polygon’s NFT sales surpassed the $4 million mark for the third time this year — first in January and second on July 3.
Solana secured the top spot with $3.9 million in NFT sales, recording a 50% surge in the past 24 hours. Notable, Solana is the only blockchain on this list with an increased number of buyers, rising by 62% and currently sitting at 20,946 unique buyers.
The amount of NFT sales on the Bitcoin network rose by only 11% over the past day, standing at $2.7 million, according to CryptoSlam data. At this point, Bitcoin has the least amount of wash trading volume among the leading four blockchains — only around $23,000.
Notably, the monthly NFT sales have been consistently decreasing since March this year — falling from $1.6 billion on March 1 to $127 million on July 1.
Read more: Spot Ethereum ETF approval is looming: 2 reasons to avoid
Source