Polygon NFTs Explode: 6-Month High Volume Ignites Market – Details
08 Januar 2024 - 2:30PM
NEWSBTC
After a very dull performance over the majority of 2023, the
Polygon PoS chain managed to gather considerable pace and
demonstrate notable strength in the latter part of the year. Data
indicates that, in addition to the remarkable price performance of
MATIC, the Polygon network’s native token, there was a lot of
excitement surrounding Polygon’s NFT ecosystem in December of the
previous year. Related Reading: Injective Poised For Breakout?
Unlock Event Sparks $60 INJ Price Surge Forecasts Polygon NFT
Surge: Sales Volume Peaks An increase in the overall number of NFT
deals and an upward trend in NFT sales volume, especially during
the past seven weeks, are indicators of this expansion. On December
6, 2023, the spike peaked for six months, ranking the Layer-2
scaling solution third in terms of NFT sales volume, after Ethereum
and Bitcoin. NEW: Polygon NFT sales volume is surging to levels not
seen in over 6 months. pic.twitter.com/M4iWtRTDOe — Today In
Polygon (@TodayInPolygon) January 5, 2024 Polygon has sold
nearly $10 million in a single day, according to
CryptoSlam data. This is more than twice as much as Solana, which
sold a little over $4.1 million. Flippening began when Solana’s
sales volume fell more than 17% in a day, whereas Polygon NFT sales
volume increased by 42%. NFT Collection Rankings by Sales Volume.
Source: CryptoSlam Today In Polygon, a popular X (formerly Twitter)
handle, recently tweeted about blockchain’s rise in the NFT market.
According to the post, Polygon’s NFT sales volume was rising to
levels not observed for more than half a year. This episode
suggested a renewed interest in MATIC NFTs, which in the upcoming
months may have a more significant effect on the ecosystem. NEW:
Polygon NFT sales volume has reached $47M in the month of December.
This is the highest monthly volume since February 2023.
pic.twitter.com/tD6F8L6c2u — Today In Polygon (@TodayInPolygon)
December 31, 2023 Based on DappRadar statistics, the top
Polygon NFTs during the previous 30 days were Genesis WildPas,
Collect Trump, The Sandbox, and Gas Hero Coupon NFTs. In addition,
Polygon’s wash sales total is larger than Solana’s, coming in at
$858,631 versus $175,493. The entire sales volume, which includes
both normal and wash sales, is $10,845,385 for Polygon NFTs and
$4,292,160 overall. MATIC market cap currently at $7.582 billion.
Chart: TradingView.com MATIC Up Amidst Market Complexity While this
was going on, the token’s price chart turned green, encouraging
MATIC bulls to pick up their game. MATIC has increased by more than
3% in the last day alone, according to CoinMarketCap. With a market
valuation of more than $8 billion, it was trading at $0.83 at the
time of writing. Even with these encouraging indicators, certain
areas displayed unfavorable patterns, such as a decline in the
graph of unique addresses and a drop in the quantity of
transactions after a peak on December 25, 2023. These inconsistent
tendencies highlight the intricate mechanisms at work within the
Polygon NFT ecosystem, despite the fact that the cryptocurrency
market is infamously volatile. Related Reading: Akash Who?
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