Polygon has made significant strides in the NFT market, surpassing both Bitcoin and Solana in daily NFT sales volume. According to CryptoSlam, total NFT sales have increased by 27% in the past 24 hours, reaching $18.21 million. Despite a 7% decline in the number of transactions, which now stands at 351,319, the market has seen a notable surge in activity, possibly indicating heightened involvement from large investors.

Ethereum Leads the NFT Scene

Ethereum remains the dominant force in the NFT market, with sales volume increasing by 24% over the past day to approximately $5.1 million. Since late May, Ethereum has been at the forefront of the NFT space, consistently leading in sales volume.

Polygon’s NFT sales have shown remarkable growth, overtaking Bitcoin and Solana with a 173% rally in its trading volume. This is the third time this year that Polygon’s NFT sales have surpassed the $4 million mark, with previous peaks occurring in January and July 3.

Solana’s Strong Buyer Growth

Solana recorded a significant increase in NFT sales, reaching $3.9 million—a 50% surge in the past 24 hours. Solana also stands out as the only blockchain on this list with an increased number of buyers, rising by 62% to 20,946 unique buyers.

NFT sales on the Bitcoin network rose by 11% in the past day, totaling $2.7 million. Bitcoin also has the least amount of wash trading volume among the leading four blockchains, with only around $23,000.

Despite the recent daily increases, monthly NFT sales have been on a downward trend since March. Sales have dropped from $1.6 billion on March 1 to $127 million by July 1, indicating a broader market contraction over the past few months.