Ethereum leads with US$12.47 Million in NFT sales

Ethereum has reclaimed its position as the top-ranking blockchain in non-fungible token (NFT) sales over the past 24 hours, with a 12.06% rise to US$12.47 million, according to CryptoSlam data.

The blockchain saw a slight decrease of 5.29% in wash sales on Wednesday, which are typically non-genuine transactions used to inflate volume.

This performance has contributed to Ethereum’s all-time sales volume, which now sits at a market-leading US$43.27 billion.

Bitcoin, which led the industry in NFT sales each day leading to Wednesday this week, came in second with US$10.9 million.

Bitcoin’s performance helped the network reach a new milestone as it became the fourth blockchain to top US$2.9 billion in all-time sales.

Solana ranked third with sales reaching US$7.67 million after a 17.38% drop. The network’s wash sales surged by 40.79%.

Other blockchains such as BNB and Polygon also displayed notable activities in the NFT market.

Both networks were of the only five blockchains to record at least US$1 million in sales on Wednesday.

At the lower end of the spectrum, networks like Flow and Ronin saw the largest sales changes in the past 24 hours.

Flow’s sales skyrocketed by 90.72%, reaching nearly US$497,324, while Ronin’s sales jumped an impressive 280.87%, although starting from a lower base, to US$243,621.