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There has been a noticeable fluctuation in the NFT volume of Cardano, a long-standing player closely monitored by investors. According to the latest data from the market, Cardano’s sales volume has increased by 18%, which seems to have solidified its position within the top 10 chains. This situation has led to a total transaction volume of 116,803, which is considered impressive under the conditions of the NFT market and indicates that the platform has reached an important milestone.
The Current State of Cardano and the NFT Market
While Cardano is experiencing promising growth, Ethereum continues to lead the NFT sector, despite last year’s surge by Solana and Bitcoin. Looking at Ethereum’s dominance, an important increase of 18% is evident. Ethereum’s network maintains its top position with sales worth 14 million dollars.
On the other hand, Solana, which made a significant impact last year and rose to second place with its initiatives, is experiencing a noticeable decline in NFT sales. As a result of a significant 29% drop, the transaction volume on the Solana network has fallen to 9.1 million dollars.
In addition, amidst the fluctuating volumes, smaller chains such as Mythos and Flow are emerging as competitors in the NFT market.
Especially when examining the Flow side, there is a significant increase of 34.57% in transaction volume. This increase points to the growing interest around alternative blockchain platforms and highlights the dynamic and variable nature of the NFT market.
Ethereum and Solana’s Dominance
Looking at Ethereum, the dominance of projects like MAYC and CryptoPunks continues, placing the network at the top of the list. The notable 4.5 million dollar volume generated by the CryptoPunks project during the peak of NFTs continues to attract investors.
On the other hand, the popularity of CryptoUndeads on the SOL network seems to be increasing recently, with an impressive sales volume increase of 65.74%. This surge is considered one of the biggest indicators that NFT investors do not want to enter the potential bull market in the crypto space empty-handed in the near future.
As of today, Cardano’s position could be one of the most significant examples of investors wanting to accumulate different types of NFTs on various networks before the bull market.
