The NFT market remains dominated by Ethereum

The blockchain sector continues to be led by Ethereum. At least when it comes to NFT’s market share. According to the Messari analytical platform, Vitalik Buterin’s project accounted for 84 percent of the secondary volume of non-convertible token trading in the first quarter of this year.

Ethereum dominates the NFT market.

Although Ethereum has been criticized, it maintains its leading position in the NFT market. Messari data confirms this, which shows this network was responsible for 84% of secondary NFT volumes this year.

In terms of comparison, the next places were Solana and Polygon. However, the scale of Ethereum’s victory can be seen by specific amounts. In Vitalik Buterin’s work, the volume is USD 8.5 billion. The volume of Solana is only about USD 700 million.

On Twitter, the company tweeted its exact figures.

Ethereum is currently reforming and transitioning to Ethereum 2.0. Many analysts believe that it will be considerably more appealing to creators after the network’s modifications are implemented. 

Furthermore, a change in the method currencies are produced will cause a shortage of ETH on the market, which could lead to a price increase according to supply and demand.

According to well-known market expert Kamil Jarzombek, smaller investors are not aware of how much Ethereum can grow in the long run because they do not have the resources to do so. So, in his perspective, this means that now is an excellent time to buy ETH.

Read Also: Samsung will launch Hong Kong’s First Blockchain ETF

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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