Ethereum reclaims NFT throne with US$17.02 mln in daily sales

Ethereum reclaimed its position as the top-ranking blockchain in the non-fungible tokens (NFT) market on Wednesday, with daily sales reaching US$17.02 million.

The platform saw an increase of 39.19% in sales in the 24 hours to 2 p.m. ET, according to data from CryptoSlam. Ethereums all-time sales volume rose to US$43.36 billion, which is the highest in the industry.

Ethereum dethroned Bitcoin for the top daily sales spot after the latter had held the position for two days.

This marks the second consecutive week where Bitcoin led the market on Monday and Tuesday, only to concede the lead to Ethereum by Wednesday.

Bitcoin and Solana ranked second and third for the day, respectively, with Bitcoin experiencing a near 30% decrease in sales to US$11.61 million, while Solanas sales dipped slightly by 4.17%, totaling US$6.79 million.

Despite the decrease, Bitcoin inches closer to US$3 billion in all-time NFT sales volume, now about US$23 million away.

It is on pace to become the fourth network in history to pass the mark.

Polygon recorded the fourth highest sales volume on Wednesday with a 6.35% increase in sales over the last 24 hours, reaching US$1.13 million.

Polygons sales volume reached at least US$1 million for the first time this week.

Mythos Chain, the fifth NFT network for the day had US$1.06 million in sales.

Immutable dropped out of the top 5 position on Wednesday after suffering a 20% sales slump to US$725,679.