NFTs sales hit a new high increasing Polygon network activity

• NFTs sales on the Polygon network has increased significantly last month
• In December 2021, the transaction volume hit just short of 2 million
• The sales chart spiked by approximately 60%, in comparison to November 2021
• The count of unique daily active Proof-of-Stake (PoS) chain addresses on Polygon is expecting a new ATH

NFTs are one of the millennial innovations in the ecosystem of revolutionizing technology. Over the past few years, the interest in these crypto collectibles have spiked significantly. OpenSea, one of the leading NFT marketplaces, has seen notable volume. Recently, the Non-Fungible Tokens being sold on the Ethereum’s Layer-2 protocol, Polygon has hit a new all time high. Notably, last month the transaction volume hit just short of 2 million. Moreover, the market continues to attract more enthusiasts, though the demographic is more aligned to gaming firms and developers than collectibles as on the Ether blockchain.

NFTs sales on Polygon hit a new high

Polygon offers a scaling solution on the Ethereum blockchain network, and seeks to construct, distribute, and manage securities on blockchain. The network has grown exponentially over the last year, with notable counts of partnership in the crypto and DeFi ecosystem. Additionally, according to data from DefilLama, the total value locked (TVL) on the network has surged from near $313k to currently at more than $5.28 billion.

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According to Dune Analytics, an on-chain analytics provider, Last month, NFTs sales on the Polygon blockchain network hit a new high. Notably, the chart spiked by approximately 60%, in comparison to November 2021. Moreover, the platform highlighted that it was the third consecutive monthly increment on the Polygon chain.

PoS addresses on Polygon expects new ATH

The sales of NFTs, it is observed that the count of unique daily active Proof-of-Stake (PoS) chain addresses on Polygon is expecting a new ATH. The figure seems aiming to surpass its last record of 566,516 marked on October 2, 2021. 

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According to Sandeep Nailwal, the CEO of Polygon, the brains behind the blockchain have found a niche in attracting a high proportion of gaming firms. Besides, the network has also attracted several NFT-focused platforms, as opposed to the collectibles and art often witnessed on the Ether blockchain.

MATIC price is continuously skyrocketing

Since the beginning of 2021, the price of Polygon’s native cryptocurrency, MATIC, has shown notable growth. Over the last year, the coin has surged by more than 8868.75%. However, after achieving its last all time at the price level of $2.8, it declined by more than 22% at $2.22. Over the past seven days, the price of MATIC has dropped by more than 12%. Still the community behind the project is bullish and expects more notable growth by the end of this year.