Ethereum’s NFT Dominance Evolves Amidst Market Volatility

The NFT market saw a slight dip last week with transaction volume decreasing by 0.05% to reach $129.8 million. Despite this, Ethereum maintained its dominance, even experiencing a 26.22% volume drop. This decline reflects the ongoing volatility of the NFT sector. However, the Avalanche network experienced an impressive surge in transaction volume, jumping to second place with a whopping 202.92% increase reaching $22.3 million. Polygon and Bitcoin also saw significant increases, highlighting shifts within the NFT ecosystem.