Arbitrum Sees 111% Surge in NFT Sales, Beating ETH, Solana

Non-fungible tokens (NFTs) on popular crypto blockchain networks, such as Ethereum (ETH), Solana (SOL), and Arbitrum (ARB), have recorded staggering gains within the past 24 hours. Statistics from market tracker Crypto Slam have confirmed a resurging interest in NFTs.

According to Crypto Slam data, genuine $NFT sales volume on the Ethereum network grew by 1.26% to $17,373,122, with 9,359 buyers involved in the transactions. On the other hand, counterfeit $NFT sales volume dropped by 30.7% to $6,086,428.

Cumulatively, the Ethereum blockchain saw a total $NFT trading volume of over $23.45 million within the past day. On the seven-day scale, the total sales amounted to $207.9 million, though reflecting a 13.45% decline, primarily influenced by wash trading.

Meanwhile, the Solana network outperformed Ethereum in $NFT sales volume regarding percentage growth from the previous day. In particular, Solana registered a 27.6% gain, with sales exceeding $9.28 million within 24 hours from 20,591 buyers.

However, Solana saw an uptick in counterfeit $NFT transactions, with wash trading growing by 5.65% to $1.76 million compared to the significant decrease observed for Ethereum. Overall, total $NFT sales on Solana exceeded $11 million in 24 hours and $63.3 million over the past 30 days.

Meanwhile, the growth rate in $NFT trading volume on the Arbitrum network more than doubled the figures observed for Ethereum and Solana. Specifically, the Arbitrum network saw a staggering 111% growth in $NFT sales, recording $1,212,592 in genuine sales from 3,415 buyers. While counterfeit sales surged by 16%, they amounted to only $1,511.

Similarly, on the seven-day scale, the Arbitrum blockchain has witnessed an outstanding 375% surge in $NFT sales, with transactions exceeding $5.76 million.