The Coinbase layer-2 network, Base, has surged to third place in non-fungible token (NFT) trading volume, experiencing a 70% increase over the past 30 days.
According to decentralized application data aggregator DappRadar, Base’s NFT volume reached $47.67 million, reflecting a 70% rise over the last month. This growth has placed the network ahead of several rivals in the NFT arena, such as Immutable zkEVM and Solana, which rank fourth and fifth by 30-day volume.
Notable collections like Get Based, DX Terminal, and Based Style have together accounted for approximately $25 million in NFT trading volume, contributing to the spike in digital collectible transactions on the network.
Besides its NFT volume, data indicates that Base is emerging as a leading ecosystem in overall activity. In the past 30 days, the network facilitated over 27 million transactions and registered more than $16 billion in decentralized application (DApp) volume, representing the total token transfers across DApps within the network.
Ethereum maintained over $400 million in NFT trading volume
While Base is gaining traction, Ethereum continues to dominate the NFT landscape. DappRadar data indicated that Ethereum achieved $408 million in trading volume over the last 30 days.
Leading NFT collections on Ethereum, such as CryptoPunks, Pudgy Penguins, Moonbirds, the Bored Ape Yacht Club (BAYC), and Lil Pudgys, collectively generated over $200 million in trading volume.
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Floor prices of blue-chip NFT collections faced declines
This occurred amid a recent decline in floor prices across prominent collections. Data from DefiLlama indicated that NFT floor prices for top Ethereum-based collections have dipped, with Pudgy Penguins, BAYC, and Doodles experiencing double-digit percentage drops.
CryptoPunks remained relatively stable, with a decrease of less than 2% in floor prices within the same timeframe.
Polygon retained its status as the second-largest network by 30-day trading volume, achieving $62.29 million in volume, a 15% increase over the past month.
Courtyard NFTs, which represent tokenized versions of real-world assets (RWAs) such as trading cards, constituted a significant portion of Polygon’s NFT volumes. Courtyard NFTs accounted for $57.65 million, up 21% in the last 30 days.
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