According to the most recent Forkast NFT reports, the top NFT blockchain platforms, such as Ethereum and Solana, have experienced a decline in their NFT sales, while the third largest NFT network, Polygon, has seen a significant increase in its non-fungible token (NFT) sales.
The Forkast 500 NFT Index, a reliable gauge for the NFT market’s performance, has experienced a decline in Asia trading today. The Forkast 500 Index in Asia has reached a low point not seen in almost two months, with leading blockchains such as Ethereum and Solana experiencing a dip in trade. This development is noteworthy and warrants close attention from industry players and investors alike.
The Forkast 500 NFT Index experienced a notable decline of 1.12% within 24 hours in Hong Kong, resulting in a current value of 4,187.01.
The Ethereum blockchain network, which boasts the most extensive collection of NFTs, experienced a significant decline in sales, plummeting by 46.71% to $21.1 million within the last 24 hours. Despite this setback, the network saw a notable increase in the total number of transactions, with a surge of 5% to 104,849.
Upon evaluating the Forkast ETH NFT Composite, which gauges the Ethereum NFT market’s performance via 20 smart contracts, it has been determined that the value has experienced a slight decline of 1.36%, currently standing at 1,395.69 as of the time of this report.
Solana, the second largest NFT blockchain, has experienced a decline in sales of approximately 33.7%, totaling $2.59 million. The Forkast SOL NFT Composite, which gauges the performance of the Solana NFT market through 100 smart contracts, saw a decrease of around 2%, dropping to 1,160.70.
Despite previous trends, the sales of NFTs on Polygon have experienced a significant upswing, reaching a staggering $2.56 million in value – a remarkable surge of 246.45%. It is worth highlighting that the driving force behind this growth is Coinllectibles, a Polygon-based project that specializes in art and auctions. In the last 24 hours alone, Coinllectibles has generated nearly $2 million in NFT sales, cementing its position as a leading player in the NFT market.
