Polygon NFT scene shows signs of strength

Polygon NFT scene shows signs of strength

A whirlwind of activity has descended upon the Polygon NFT market, sending ripples across the crypto ecosystem. From major milestones to y00ts’ departure, the landscape is ever-shifting. As one explores the intricate data and trends, a picture emerges of a bustling marketplace, replete with dynamics that both challenge and excite the avid observer.

A flourishing market despite challenges

The Polygon NFT market has surged in the past 30 days, boasting over $13.2M in volume, even with y00ts leaving the network. A crescendo was reached on August 9, with a day’s volume exceeding $830K.

Polygon NFT scene shows signs of strength - 1
(Source: @DuneAnalytics)

A fascinating breakdown of this thriving marketplace reveals that over 53% of the volume took place on OpenSea, followed by 29% on Dew, 6.1% on Rarible, and 5.3% on MagicEden.

As for the trading pairs, WETH vs Matic stood out: Over 59% of the NFT trading on Polygon-based marketplaces is executed via WETH, with $7.5M in 30-day volume, while $5M was traded in Matic.

Milestones and daily active users

Daily Active Users (DAUs) also paint a lively picture. In the past 30 days, over 5.9K DAUs were recorded, peaking at 21.6K users in a single day on July 23rd.

The top 3 TON-Based NFT collections experienced over $2.1M in 7-day volume. Anonymous Telegram Numbers led the charge in terms of volume, with $1.1M, while Telegram Usernames, seeing 3.7K in 7-day sales, took the crown in terms of the number of sales. A future fusion with web3, as suggested by Telegram’s founder Pavel Durov, hints at new horizons.

Reddit collectible avatars and Polygon

An additional layer of excitement comes from Reddit’s Collectible Avatars on the Polygon blockchain. A staggering 16M holders currently clutch 20 million Avatars. Among them, 14% hold more than one Collectible Avatar, while 13.7M are content with just one.

An ecosystem in motion

The Polygon NFT market is akin to a vibrant symphony, with each component playing a vital role. From the daily users who provide the rhythm to the intriguing collections that compose the melodies, it’s an orchestra in continuous motion. 

Despite obstacles and changes, this market shows resilience, creativity, and an unrelenting spirit of innovation. For those attuned to the beat, the next movement in this fascinating composition is eagerly awaited.

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