Q2 2022 Shows Solana NFTs as the King of Trading volumes

DappRadar is one of the leaders in analytics for decentralized applications. The platform published a report on July 5, 2022 that showed that NFTs and Blockchain gaming continued to show promise even through this current “crypto winter” phase. 

The report was clear in stating that despite the terrible losses that have plagued the crypto world these past months and the total collapse of Terra, NFTs have seen a marked increase in interest and investment as demand increased between April and June. It is worth noting that DappRadar also noted that NFT trading volume went up 533% and sales went up 59%.

Source DappRadar

Sales may have been good but DappRadar also confirmed a marketplace volume decline within the same period of April to June with marketplace volume dropping by 70% USD translated to ETH that becomes 53% drop. 

The biggest growth of NFTs comes from those projects that are metaverse focused with trading volume growth of 96%. Trading volume of ETH-based projects have seen an increase of over 100% while Polygon collections have seen a 26% decline. 

The leader of all blockchains when it comes to the NFT market is Solana. Solana has seen an increase in trade volume of 21% only to be closely followed by Avalanche. Within the same period of time other blockchains such as BSC, Ethereum, and Polygon have all suffered losses of 41%,22% and 59% respectively.

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