After a really boring efficiency over the vast majority of 2023, the Polygon PoS chain managed to assemble appreciable tempo and display notable energy within the latter a part of the 12 months.

Knowledge signifies that, along with the outstanding worth efficiency of MATIC, the Polygon community’s native token, there was loads of pleasure surrounding Polygon’s NFT ecosystem in December of the earlier 12 months.

Polygon NFT Surge: Gross sales Quantity Peaks

A rise within the general variety of NFT offers and an upward pattern in NFT gross sales quantity, particularly in the course of the previous seven weeks, are indicators of this growth.

On December 6, 2023, the spike peaked for six months, rating the Layer-2 scaling resolution third when it comes to NFT gross sales quantity, after Ethereum and Bitcoin.

NEW:

Polygon NFT gross sales quantity is surging to ranges not seen in over 6 months. pic.twitter.com/M4iWtRTDOe

— At present In Polygon (@TodayInPolygon) January 5, 2024

Polygon has offered practically $10 million in a single day, in line with CryptoSlam information. That is greater than twice as a lot as Solana, which offered just a little over $4.1 million.

Flippening started when Solana’s gross sales quantity fell greater than 17% in a day, whereas Polygon NFT gross sales quantity elevated by 42%.

NFT Assortment Rankings by Gross sales Quantity. Supply: CryptoSlam

At present In Polygon, a well-liked X (previously Twitter) deal with, not too long ago tweeted about blockchain’s rise within the NFT market.

In response to the submit, Polygon’s NFT gross sales quantity was rising to ranges not noticed for greater than half a 12 months. This episode recommended a renewed curiosity in MATIC NFTs, which within the upcoming months might have a extra important impact on the ecosystem.

NEW: Polygon NFT gross sales quantity has reached $47M within the month of December.

That is the best month-to-month quantity since February 2023. pic.twitter.com/tD6F8L6c2u

— At present In Polygon (@TodayInPolygon) December 31, 2023

Based mostly on DappRadar statistics, the highest Polygon NFTs in the course of the earlier 30 days have been Genesis WildPas, Accumulate Trump, The Sandbox, and Fuel Hero Coupon NFTs.

As well as, Polygon’s wash gross sales whole is bigger than Solana’s, coming in at $858,631 versus $175,493.

Your complete gross sales quantity, which incorporates each regular and wash gross sales, is $10,845,385 for Polygon NFTs and $4,292,160 general.

MATIC market cap at present at $7.582 billion. Chart: TradingView.com

MATIC Up Amidst Market Complexity

Whereas this was occurring, the token’s worth chart turned inexperienced, encouraging MATIC bulls to choose up their recreation. MATIC has elevated by greater than 3% within the final day alone, in line with CoinMarketCap.

With a market valuation of greater than $eight billion, it was buying and selling at $0.83 on the time of writing.

Even with these encouraging indicators, sure areas displayed unfavorable patterns, resembling a decline within the graph of distinctive addresses and a drop within the amount of transactions after a peak on December 25, 2023.

These inconsistent tendencies spotlight the intricate mechanisms at work throughout the Polygon NFT ecosystem, even though the cryptocurrency market is infamously risky.

Featured picture from Freepik