According to the latest NFT data disclosed in April, Ethereum holds the largest market share in terms of transaction volume, reaching an impressive 96%. However, in terms of active users in the on-chain NFT space, Ethereum only accounts for 44%, followed by Polygon at 37%.
While Ethereum remains the platform of choice for most mainstream NFT projects, network congestion and high transaction fees may drive some users to seek alternative platforms.
In terms of the NFT market, Blur maintained an absolute advantage in trading volume in April. However, OpenSea continues to dominate when considering the number of deals.
Blur’s prominence suggests that it is suitable for high-value assets and larger transactions, catering to professional users. On the other hand, OpenSea’s transactions are more casual, involving smaller transaction sizes, and are more suitable for retail users and lower-value day-to-day transactions.
Additionally, the NFT market saw a total of 11 funding and investment deals in April, up from 8 deals in March. This demonstrates continued interest and investment in the NFT space, demonstrating its potential for further development and expansion.
As Ethereum’s market share in NFT trading volume remains unmatched, its position as the platform of choice for NFT projects remains solid.
However, challenges posed by network congestion and high transaction fees have raised concerns among users, potentially leading to a shift to alternative platforms that offer better scalability and cost-effectiveness.