Ethereum Leads NFT Market Share; Polygon, Mythos Rise
The Non-Fungible Token (NFT) market shows varied blockchain activity. Ethereum maintains its lead in sales volume. However, other chains like Polygon and Mythos show growth. Data from Phoenix Group highlights weekly NFT trends. This analysis covers blockchain performance up to April 11, 2025.
Ethereum’s Dominance Continues
Ethereum remains the most popular network for NFT sales. Its weekly sales volume reached $37.24 million. This confirms its leading position in the market. The network facilitated 119,836 NFT transactions. Activity involved over 20,797 buyers and 16,096 sellers. These figures underscore Ethereum’s established ecosystem. Its large user base supports high NFT activity. Many high-value collections reside on Ethereum.
Polygon and Mythos Show Strong Growth
Polygon secured the second position in weekly sales. It generated $17.7 million in NFT sales volume. Polygon’s ecosystem saw a boost in transactions. A total of 260,573 transactions occurred. This indicates growing buyer interaction on the platform. Polygon offers lower fees than Ethereum. This attracts diverse NFT projects.
Mythos Chain surpassed expectations, ranking third. It achieved $13.94 million in weekly NFT sales. Remarkably, Mythos processed 546,777 transactions. This was the highest transaction frequency among all chains. Mythos focuses heavily on the gaming NFT sector. Its high transaction count reflects this activity.
Mid-Tier Chains: Solana, Bitcoin, Arbitrum
Solana continues to be a major NFT player. It ranked fourth with $6.54 million in weekly sales. The network handled 139,355 transactions. This involved 18,151 buyers and 15,419 sellers. Solana remains popular for its speed and low costs.
Bitcoin NFTs (Ordinals) held fifth place. Weekly sales reached $6.03 million. This volume came from only 16,450 transactions. Bitcoin’s NFT ecosystem is more focused. It involves a smaller base of buyers and sellers.
Arbitrum, an Ethereum Layer-2, also featured prominently. It generated $5.62 million in weekly NFT sales. Transaction count reached 12,413. Buyer and seller numbers were relatively small (2,522 / 513). This suggests targeted activity or specific collection launches.
Expanding Activity on Base, Immutable, Flow
Immutable focuses on gaming NFTs. It recorded $5.13 million in weekly sales. This came from 8,242 transactions involving 1,832 buyers. Immutable leverages Ethereum’s security with Layer-2 scaling.
Base, backed by Coinbase, showed rising usage. It handled $3.51 million in sales across 121,062 transactions. Buyer (2,190) and seller (2,585) counts grew. This indicates growing adoption in recent weeks.
Flow blockchain generated $1.04 million in sales. It processed 71,122 transactions. Flow is often linked to sports collectibles (e.g., NBA Top Shot). It caters to large brands entering the NFT space.
Emerging Chains and Overall Market Trend
BNB Chain recorded $1.93 million in weekly sales. It processed 11,938 transactions.
Panini specializes in sports-related NFTs. It achieved $783,423 in sales via 26,913 buyers.
Ronin, linked to Axie Infinity, saw $294,252 sales. It had 39,264 transactions and 13,464 buyers. This highlights sustained community engagement despite lower volume.
Overall, the NFT market experienced a decline. Total sales value fell 41.13% over 30 days ($416.8M). Total transactions dropped 51.03% (5.68M). Despite this downturn, competition remains stiff. Ethereum leads, but Polygon and Mythos are gaining ground. Other chains carve out specific niches effectively.
| Blockchain | Sales Volume | Transactions |
|---|---|---|
| Ethereum | $37.2M | 119.8K |
| Polygon | $17.7M | 260.6K |
| Mythos | $13.9M | 546.8K |
| Solana | $6.5M | 139.4K |
| Bitcoin | $6.0M | 16.5K |
| Arbitrum | $5.6M | 12.4K |
| Immutable | $5.1M | 8.2K |
| Base | $3.5M | 121.1K |
| BNB Chain | $1.9M | 11.9K |
| Flow | $1.0M | 71.1K |
Ethereum continues its NFT sales dominance. However, Polygon and Mythos show significant transaction activity. The overall NFT market has cooled, but blockchain competition remains high.