The NFT market has solidified its position as a dominant force within the cryptocurrency industry, representing a significant portion of the overall market capitalization. Cryptorank, a leading aggregation platform, reports that the NFT market boasts an impressive $2.9 billion market capitalization.
Several NFT blockchains have emerged as the top-tier solutions driving the expansion of the NFT industry. Among them are Ethereum, Solana, Polygon, and a select few others, which we will delve into below.
Ethereum
Ethereum stands tall as the preeminent altcoin in the crypto sphere, boasting unparalleled versatility as a blockchain platform. Its unrivaled support for NFTs has made it the go-to network for NFT trading, with the highest trade volume. With a market capitalization exceeding $215 billion and a monthly trading volume of $319.5 billion, Ethereum is widely recognized as the platform of choice for other cryptocurrencies and the execution of smart contracts.
Polygon
Polygon is a cutting-edge layer-two scaling solution that empowers the development of decentralized applications and smart contracts. In a recent ranking of the top 10 blockchain NFTs by monthly volume, Polygon has emerged as a strong contender alongside Ethereum. According to CoinmarketCap data, Polygon’s market capitalization currently stands at an impressive $9.79 billion, with a monthly trading volume of $8.6 billion. These figures testify to the platform’s robustness and ability to meet the demands of the rapidly evolving blockchain landscape.
Solana
Solana stands out as one of the leading NFT-supporting blockchains alongside Polygon. Its reputation as a go-to platform for NFT projects is well-deserved, thanks to its lightning-fast transaction speeds and cost-effectiveness. With a market capitalization exceeding $7.9 billion and a monthly trading volume of the same amount, Solana has firmly established itself as a major player in the blockchain space. As a public open-source blockchain designed to host decentralized applications, Solana offers unparalleled accessibility and flexibility for developers and users alike.
Magic
Introducing Magic, the native token of the Treasure Metaverse – a revolutionary NFT ecosystem built on Arbitrum, a layer two scaling solution on Ethereum. MAGIC serves as a utility token, facilitating seamless connectivity between gaming communities. With a market capitalization of $291.3 million and a thirty-day trading volume of $4.1 billion, Magic is a force to be reckoned with in the cryptocurrency world. Join the Treasure Metaverse today and experience the power of MAGIC for yourself.
ApeCoin
ApeCoin, an Ethereum-based ERC-20 token, is the governing force behind the thriving APE ecosystem. This token is the driving force behind the highly sought-after APE-themed NFTs that have taken the market by storm in 2021. With a market capitalization exceeding $1.47 billion and a thirty-day trading volume surpassing $3.5 billion, ApeCoin has established itself as a formidable player in cryptocurrency.
Blur
Blur is a cutting-edge NFT marketplace that boasts the native governance token BLUR. As an aggregator platform, it offers invaluable market data essential for in-depth NFT market analysis. With a staggering thirty-day trading volume of $2.56 billion and a market capitalization of $219.2 million per CoinMarketCap, BLUR is a force to be reckoned with in the world of NFTs. Trust us; you will want to take advantage of this game-changing platform.
Flow
Flow is a cutting-edge blockchain that is a robust infrastructure for next-gen decentralized applications, particularly NFTs. Its exceptional speed and developer-centric approach have made it popular among blockchain enthusiasts. According to CoinMarketCap data, Flow has emerged as one of the most sought-after NFT-supporting blockchains in the last thirty days, with a remarkable trading volume. With a market capitalization of $976 million and a thirty-day monthly trading volume of $857.9 million, Flow is undoubtedly a force to be reckoned with in the blockchain space.
SuperRare
SuperRare has secured its position as one of the top 10 NFT-supporting blockchains in the past month, boasting a market capitalization of $40.5 million, as reported by CoinmarketCap. As a leading NFT platform, SuperRare has amassed an impressive $250 million in digital art sales and has paid out up to $3 million in royalties to artists. The platform’s native token, RARE, has a daily trading volume of $6.2 million. With these impressive figures, SuperRare continues solidifying its status as a premier player in the NFT space.
LooksRare
LooksRare is a community-driven NFT initiative that strongly emphasizes rewarding its members. The platform’s native token, LOOKS, boasts an impressive market capitalization of $64 million, with a daily trading volume of $3.29 million. As one of the most active projects in the NFT space over the past month, LooksRare stands alongside leading blockchain networks supporting NFTs.
Radio Caca
After thoroughly analyzing the top NFT-supported blockchain protocols over the past month, we have selected Radio Caca and its native token RACA as our final pick. This innovative platform serves as a Web 3.0 infrastructure solution provider, offering unparalleled support for the NFT ecosystem. According to CoinmarketCap data, RACA boasts a market capitalization of $62.26 million and a daily trading volume of $2.38 million. With its impressive performance and commitment to advancing the blockchain industry, Radio Caca is a promising investment opportunity for those seeking to capitalize on the growing NFT market.
