Forkast 500 NFT Index: Ethereum and Solana Descend in NFT Sale

• Ethereum and Solana plummeted in their NFT sale, according to the Forkast NFT Index.
• Polygon showed a surge in NFT sales by almost 246.45%.
• The Forkast 500 NFT Index in Asia fell to a nearly two-month low.

In accordance with the latest Forkast NFT reports, the leading NFT blockchain platforms including Ethereum and Solana have been exhibiting a negative trend in their NFT sales, while the third largest NFT network, Polygon, had a surge in its sale of non-fungible tokens (NFTs).

Interestingly, the Forkast 500 NFT Index, a proxy measurement for the performance of the NFTs based on 500 smart contracts, has fallen in Asia trading this morning. Asia’s Forkast 500 Index declined to nearly two months low, with the trade on the leading blockchains including Ethereum and Solana slipping down.

Significantly, the Forkast 500 NFT Index plummeted by 1.12 % to 4,187.01 over the span of 24 hours in Hong Kong.

Notably, the largest blockchain network for NFTs, Ethereum slumped in its sale by almost 46.71% to $21.1 million over the past 24 hours. However, the total number of transactions has increased to 104,849, marking a surge of 5%.

While estimating the Forkast ETH NFT Composite, the measurement of the performance of the Ethereum NFT market through 20 smart contracts, it was understood that the value went down by 1.36% to 1,395.69, at the time of reporting.

Similarly, the second largest NFT blockchain, Solana has been witnessing its sales decline by almost 33.7% to $2.59 million. The Forkast SOL NFT Composite, which measures the performance of the Solana NFT market through 100 smart contracts lost to 1,160.70 by around 2%.

Nonetheless, the NFT sales on Polygon had a substantial growth to almost $2.56 million, marking a sudden surge of almost 246.45%. It is noteworthy that the NFT sales were led by Coinllectibles, the Poygon project that focuses on art and auction. The project had almost $2 million in NFT sales over the past 24 hours.

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