Coinbase layer-2 network Base took the third spot in non-fungible token (NFT) trading volume after a 70% surge in the last 30 days.
Decentralized application data aggregator DappRadar showed that Base’s NFT volume reached $47.67 million, increasing by 70% over the past month. The increase pushed the network ahead of many competitors in the NFT space, including Immutable zkEVM and Solana, which are ranked fourth and fifth by 30-day volume.
Collections like Get Based, DX Terminal and Based Style collectively recorded about $25 million in NFT trading volume, driving the surge in digital collectible trading activity on the network.
In addition to NFT volume, the data showed that Base is becoming one of the busiest ecosystems in overall activity. In the last 30 days, the network processed over 27 million transactions and had more than $16 billion in decentralized application (DApp) volume, which is the total token transfers across DApps within the network.
Top blockchains by 30-day NFT volumes. Source: DappRadar
Ethereum recorded over $400 million in NFT trading volume
While Base may be on the rise, Ethereum remains the most dominant network for NFTs. DappRadar data showed that in the last 30 days, Ethereum recorded $408 million in trading volume.
CryptoPunks, Pudgy Penguins, Moonbirds, the Bored Ape Yacht Club (BAYC) and Lil Pudgys led NFT trading activity on Ethereum, collectively recording over $200 million in trading volume.
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Blue-chip NFT collections saw floor price drops
This happened despite a recent downturn in floor prices across blue-chip collections. On Tuesday, DefiLlama data showed that NFT floor prices for top collections based on Ethereum saw a drop. Pudgy Penguins, BAYC and Doodles all saw double-digit percentage declines.
CryptoPunks remained steady with less than a 2% drop in floor prices over the same time period.
Polygon remained the second-largest network by 30-day trading volume. The chain had $62.29 million in volume, up 15% in the last 30 days.
Courtyard NFTs, which represent tokenized versions of real-world assets (RWAs) like trading cards, took up a majority of Polygon’s NFT volumes. Courtyard NFTs had $57.65 million, up 21% in the last 30 days.
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