Crypto Updates

Polygon NFTs Explode: 6-Month High Volume Ignites Market

Polygon NFTs Explode: 6-Month High Volume Ignites Market

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.

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.

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.

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…

Click Here to Read the Full Original Article at NewsBTC…