Polygon Surpasses Ethereum and Solana in terms of NFT Users

• Polygon surpassed Ethereum and Solana in terms of NFT Holders.
• Weekly NFT users droped on Ethereum and Solana.
• Polygon sees a 500% rise in weekly users.

According to data from the analytics platform Nansen, Polygon’s NFT market is currently experiencing significantly increased adoption, bringing it closer to Ethereum in terms of numbers. Meanwhile, NFT ecosystems on other chains, such as Ethereum and Solana, have a decreasing number of users per week.

Solana’s NFT weekly users have dropped from over 160,000 in late September to around 60,000 in December, while Ethereum’s weekly users have decreased from over 250,000 to around 183,000.

Over the past month, 10 collections on Polygon’s NFT market attracted more than 180,000 holders, while four collections drew the attention of more than 500,000 holders. Comparatively, there have been four collections with over 100,000 holders and one collection with over 500,000 holders in Ethereum’s NFT market. According to Nansen’s statistics, there has not been a single collection with more than 30,000 holders on the Solana NFT market.

Four of the top 10 collections on Polygon’s NFT market in the past 24 hours are related to Reddit; these were airdropped at the end of August as part of Reddit’s inaugural drive to embrace blockchain technology.

Furthermore, the number of users every week in Polygon’s NFT ecosystem has increased by more than 500% since early August. There were more than 240,000 users on the blockchain between December 5 and December 12, posting a new weekly record.

The average weekly volume of transactions processed by Polygon throughout November and early December was around 24.36 million, with the vast majority coming from mints. As of December, Polygon NFTs have had a total of over 338 million MATIC in trading volume across 2.5 million unique wallets.