The Polygon PoS chain has shown impressive strength in the later part of the year after a slow performance in 2023.

Recent data indicates a surge in the Polygon network’s native token, MATIC, and the growth in the Polygon’s NFT ecosystem, particularly in December of the previous year.

Surge in Polygon NFT Sales Volume

The number of NFT deals and the sales volume have seen an uptrend, with a notable peak in December 2023. This surge positioned the Layer-2 scaling solution as the third highest in NFT sales volume, following Ethereum and Bitcoin.

According to CryptoSlam data, Polygon has recorded nearly $10 million in NFT sales in a single day, surpassing Solana by more than double the amount.

As Solana’s sales volume dropped, Polygon’s NFT sales volume experienced a significant 42% increase.

A popular source, Today In Polygon, reported that the NFT sales volume on the polygon network had reached $47 million in December, marking the highest monthly volume since February 2023.

The top Polygon NFTs included Genesis WildPas, Collect Trump, The Sandbox, and Gas Hero Coupon NFTs, according to DappRadar statistics.

Additionally, Polygon’s wash sales total exceeded Solana’s, indicating a larger market presence.

The overall sales volume, which encompasses both regular and wash sales, stood at $10,845,385 for Polygon NFTs, while the entire market cap was at $7.582 billion at the time of writing.

MATIC’s Performance Amidst Market Complexity

Despite certain areas displaying adverse trends, the token’s price chart turned positive, with MATIC showing a growth of over 3% in the last day, reaching a market valuation of over $8 billion and trading at $0.83 at the time of writing.

However, there were unfavorable patterns such as a decline in unique addresses and a drop in the quantity of transactions after a peak on December 25, 2023, indicating the intricate nature of the Polygon NFT ecosystem within the volatile cryptocurrency market.

Featured image from Freepik

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FAQs

What contributes to the surge in Polygon NFT sales volume?

The surge in Polygon NFT sales volume can be attributed to the network’s impressive performance and the growing interest in the Polygon NFT ecosystem, particularly in December 2023.

What are the top Polygon NFTs in terms of sales?

According to DappRadar statistics, the top Polygon NFTs in the previous 30 days included Genesis WildPas, Collect Trump, The Sandbox, and Gas Hero Coupon NFTs.

How has MATIC performed amidst market complexity?

Despite certain unfavorable patterns in certain areas, MATIC has shown a positive price chart with a growth of over 3% in the last day, reaching a market valuation of over $8 billion.