- Ethereum continues to impress despite an overall decrease in NFT sales volume.
- The blockchain has seen billions of dollars in monthly NFT trading volume since the start of 2022.
- Combined sales volume hit approximately $27 billion by the end of May.
Ethereum continues its dominance in the non-fungible token (NFT) space as it extends its lead as the biggest blockchain by all-time sales volume.
With Ethereum being the most popular chain for digital collectibles, there’s no wonder why this technology has become so influential in recent years. According to reports, Ethereum had a total sales volume of approximately $27.5 billion as of May 31st.
This is excellent news for the project after its native asset, ETH, fell below $2,000 in May and saw its market capitalization decline to less than $250 billion.
The race for blockchains with the most all-time NFT sales is on. Ethereum sits at the top of this list, followed by Ronin, Solana, Flow, and Polygon. Other chains in the running include WAX, Avalanche, Palm, Tezos, Panini, Binance Smart Chain (BSC), and Waves.
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What Caused Soaring Ethereum Sales Volume?
With a total transaction count of 772,859 and 139,944 unique buyers in August 2021, it’s no surprise that Ethereum’s sales volume was around $3.75 billion by end-August.
The number of new buyers on Ethereum reached an all-time high in January 2022, with 148% more people opting since August. In January 2022, the number of unique buyers was 347,186, corresponding to 1.27 million transactions! This month also proved to be Ethereum’s all-time high in monthly sales volume, with approximately $3.98 billion sold.
The other five most lucrative months for Ethereum were September 2021 ($2.4 billion), December 2021 ($2 07 billion), February 2022($2.5 billion), March 2022($2.06 billion), and April 2022, with a whopping total of $32.21 billion.