Ethereum remains the leader in NFT trading this week, although Bitcoin is creating a stir! Other blockchains are also competing for a share of the pie.
Ethereum continues to control the NFT arena, collecting more than $33.15 million in sales this week. This is due to a dynamic community of nearly 30,000 purchasers and 25,000 vendors who have completed over 146,000 deals.
Bitcoin is emerging as a powerful rival, with $23.13 million in NFT trading. This demonstrates enormous growth potential, with over 16,000 purchasers and a stunning 47,000+ deals. Polygon is not far Is it feasible for FXGuys to eclipse Shiba Inu and Cardano (ADA)? The rationale behind investors’ optimism, clinging to third place with nearly $16 million in trading. Its effective blockchain has enabled nearly 200,000 deals between about 9,000 vendors and 22,000 purchasers.
Mythos is establishing itself in the NFT sphere, reporting over $15.5 million in trading and a massive 631,000+ deals this week. It appears to be succeeding, particularly with its emphasis on gaming and entertainment NFTs. Solana, known as an Ethereum rival, generated over $10.6 million in trading from 165,000+ deals. Its low costs and rapid speeds are attracting a lot of interest, with over 37,000 purchasers and 26,000 vendors.
Other blockchains such as Base, Immutable, Avalanche, and BNB Chain are also keeping the NFT environment active. As of March 14, Ethereum remains the dominant force in NFT trading, but Bitcoin, Polygon, and Mythos are definitely worth watching!
Base, the Layer-2 blockchain of Ethereum, exhibits robust expansion with a transaction amount of $3.73 million across 120,989 deals. Base has created a considerable presence in the marketplace, with 5,190 purchasers and 5,312 vendors.
Immutable ($IMX), with its platform for gaming NFTs, reached a transaction amount of $2.64 million. Immutable’s gaming NFT initiatives continue to prosper, and although transaction amount is fairly low at 6,515 deals, it still keeps 3,990 purchasers and 4,271 vendors.
Avalanche ($AVAX) racked up a transaction amount of $1.7 million, completing 3,607 deals and successfully ranking among the top ten blockchains.
BNB Chain ($BNB) kept its importance in the NFT space with a transaction amount of $1.26 million and 3,167 deals, showing the Binance blockchain’s long-lasting strength in competition with Polygon and Ethereum.
Flow ($FLOW) stayed active, completing 87,242 deals and attaining a transaction amount of $1.16 million through its blockchain created for digital collectibles and NFTs.
Panini reported a transaction amount of $1.4 million and 20,164 deals from its sports-related NFT products, showing sustained demand for digital collectibles.
Ronin ($RON), a cryptocurrency platform, ranked last on the list, with its blockchain gaming activities producing a transaction amount of $419,470. The network kept repeated growth through 37,857 deals during the duration, while also showing the real-time progress of the play-to-earn (P2E) gaming model.
The NFT space is becoming more active than ever, with numerous developing patterns, including Bitcoin Ordinals, gaming NFTs, and low-fee services, developing rapidly. The coming weeks will expose whether Ethereum can keep its supremacy or whether its rivals can considerably narrow its lead.
