In the NFT arena, all eyes are on Ethereum, which has eclipsed all other blockchains. At $25 billion, Ethereum has been branded the world’s most popular blockchain.
The total amount of cryptocurrency sales as of May 31 was $27.50 billion. When it comes to NFT transactions, such as collecting, purchasing, and selling NFT items, Ethereum is the best blockchain to use. In terms of total sales volume, Ethereum is presently the most popular blockchain (The Daily Hodl).
After falling below $2,000 this month and having a market capitalization of less than $250 billion, Ethereum’s recent rise in total sales volume represents a significant milestone.
More than half of the ETH in circulation is still in the hands of holders, even as the market continues to decline. As early as January 2022, they began bolstering their ETH holdings, and their total climbed after each fall.
When the price of ETH fell below $1,800, most HODLers bought ETH and held on to it. People that hang on to their ETH for the long term (known as “HODLers”) do so in spite of the current market turbulence.
With this latest peak, Ethereum has overtaken Solana, Polygon, Ronin, Flow, WAX, Waves, Avalanche, Panini, Palm, Binance Smart Chain (BSC), and Tezos, who are all vying for the highest sales volume.
In the NFT arena, all eyes are on Ethereum, which has eclipsed all other blockchains. At $25 billion, Ethereum has been branded the world’s most popular blockchain.
The total amount of cryptocurrency sales as of May 31 was $27.50 billion. When it comes to NFT transactions, such as collecting, purchasing, and selling NFT items, Ethereum is the best blockchain to use. In terms of total sales volume, Ethereum is presently the most popular blockchain (The Daily Hodl).
After falling below $2,000 this month and having a market capitalization of less than $250 billion, Ethereum’s recent rise in total sales volume represents a significant milestone.
More than half of the ETH in circulation is still in the hands of holders, even as the market continues to decline. As early as January 2022, they began bolstering their ETH holdings, and their total climbed after each fall.
When the price of ETH fell below $1,800, most HODLers bought ETH and held on to it. People that hang on to their ETH for the long term (known as “HODLers”) do so in spite of the current market turbulence.
With this latest peak, Ethereum has overtaken Solana, Polygon, Ronin, Flow, WAX, Waves, Avalanche, Panini, Palm, Binance Smart Chain (BSC), and Tezos, who are all vying for the highest sales volume.
Why Do Most NFT Projects Use Ethereum?
Moreover, Ethereum is the main hub of NFTs and a leader in the whole blockchain community. When it comes to selling digital goods, the blockchain is preferred by more NFT developers than other blockchains.
High-end data architecture and strict security have made crypto popular. Most NFT projects run on it, making it a frontrunner in the DeFi industry as well.
Because it is the most well-known blockchain, ETH helps NFT projects gain traction in the NFT market. Among the most prominent ETH NFT markets are OpenSea, Nifty Gateway, and Rarible.
Moreover, Ethereum is the main hub of NFTs and a leader in the whole blockchain community. When it comes to selling digital goods, the blockchain is preferred by more NFT developers than other blockchains.
High-end data architecture and strict security have made crypto popular. Most NFT projects run on it, making it a frontrunner in the Defi industry as well.
Because it is the most well-known blockchain, ETH helps NFT projects gain traction in the NFT market. Among the most prominent ETH NFT markets are OpenSea, Nifty Gateway, and Rarible.
Also Read: According to FTX, Goldman Sachs is in Development with BTC, crypto devices
