he Polygon NFT market is experiencing a flurry of activity, causing ripples throughout the crypto ecosystem. From significant milestones to notable departures like y00ts, the landscape is in constant flux, offering both challenges and thrilling prospects for keen observers.
Over the past month, the Polygon NFT market has surged, boasting an impressive $13.2 million in trading volume, even with y00ts’ exit. The momentum peaked on August 9th, with a single day recording a remarkable volume of over $830,000.
Analyzing this vibrant marketplace reveals that OpenSea contributed to more than 53% of the volume, followed by Dew with 29%, Rarible with 6.1%, and MagicEden with 5.3%.
The trading pairs also reveal interesting dynamics, particularly WETH vs Matic. More than 59% of NFT trading on Polygon-based platforms occurred with WETH, totaling $7.5 million in 30-day volume, while $5 million was traded in Matic.
The scene is equally animated in terms of Daily Active Users (DAUs), with over 5,900 DAUs in the last month and a peak of 21,600 users on a single day, specifically on July 23rd.
Among the top 3 TON-Based NFT collections, a 7-day volume of over $2.1 million was recorded. Anonymous Telegram Numbers led the volume charge with $1.1 million, while Telegram Usernames secured the highest number of sales at 3,700. There’s a hint of future innovation with Telegram’s founder Pavel Durov suggesting a fusion with web3.
Adding more excitement is Reddit’s Collectible Avatars on the Polygon blockchain, with a staggering 16 million holders clutching 20 million Avatars. Interestingly, 14% of holders possess multiple Collectible Avatars, while 13.7 million are content with a single one.
The Polygon NFT market is a lively symphony, where each element plays a crucial role. From the daily users setting the rhythm to the intriguing collections composing the melodies, it’s an ever-moving orchestra.
Despite challenges and shifts, this market displays resilience, creativity, and a relentless spirit of innovation. For those attuned to its pulse, the anticipation for the next movement in this captivating composition is palpable.