The Rise of NFT Markets: Bitcoin and Solana Making Waves

The NFT market, within the rising cryptocurrency market, has experienced a slight shift from the previously Ethereum-dominated space with the emergence of two new players. This week, NFT collections on the Solana and Bitcoin networks have progressed, with the Bitcoin ecosystem surpassing the Ethereum ecosystem on certain days and Solana’s ecosystem securing the third position.

According to data from the NFT data platform CryptoSlam, on December 12th, the Bitcoin network managed to surpass Ethereum in 24-hour sales volume. NFT sales within the Bitcoin ecosystem exceeded $24 million, fueled by the sale of various Bitcoin Ordinals NFTs, which gained millions of dollars in value. The Bitcoin network also surpassed Ethereum in metrics such as 30-day sales volume, with Bitcoin achieving over $463 million in sales compared to Ethereum’s $373 million.

Amidst these developments, NFT collections such as Matr1x Kuku and Pudgy Penguins on the Ethereum network attracted significant interest from buyers, with daily NFT sales on the network surpassing $16 million.

Additionally, the data indicates that the Solana network ranks third in 24-hour sales volume with over $6 million. Solana’s volume is primarily driven by the Tensorians NFT collection, the DeGods NFT collection, and Gaimin Gladiators.

Bitcoin has been making gains in the NFT market recently, but the network is still far from surpassing the all-time sales record of over $41 billion on the Ethereum network. Currently, the Bitcoin network has achieved $1 billion in all-time NFT sales and is in the sixth position.

These positive developments in the NFT market have followed the rise in the cryptocurrency market. Investors have reached significant user numbers due to profit realization and especially the rise of Layer-1 projects like Ethereum and Solana.

The frenzy in the GameFi sector continues to grow, with GameFi projects on the Ethereum network, in particular, causing an increase in sales and leading investors to make significant decisions about the future due to their token plans.