Arbitrum sees a 111% increase in NFT sales, beating ETH and Solana

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

According to data from Crypto Slam, real 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 fell 30.7% to $6,086,428.

Cumulatively, the Ethereum blockchain saw a total NFT trading volume of over $23.45 million in the past day. On the seven-day scale, total sales were $207.9 million, although this reflected a decline of 13.45%, mainly driven by the laundry business.

Meanwhile, the Solana Network outperformed Ethereum in NFT sales volume in terms of percentage growth from the previous day. In particular, Solana recorded a gain of 27.6%, with sales of over $9.28 million within 24 hours from 20,591 buyers.

However, Solana saw a rise in fake NFT transactions, with wash trading growing 5.65% to $1.76 million, compared to the significant decline seen for Ethereum. In total, total NFT sales on Solana exceeded $11 million in 24 hours and $63.3 million in the last 30 days.

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

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