Base, Coinbase’s layer-2 blockchain, has secured the third spot in global NFT trading volume after a remarkable 70% surge over the past 30 days, according to data from DappRadar.
The network’s NFT trading activity hit $47.67 million, pushing Base ahead of competitors like Immutable zkEVM and Solana, which now rank fourth and fifth respectively. This growth highlights Base’s rapid adoption within the NFT ecosystem.
What’s Driving Base’s NFT Boom?
Several NFT collections have fueled this surge, including Get Based, DX Terminal, and Based Style, which together generated around $25 million in volume. These collections have attracted both collectors and traders, boosting activity on the network.
Beyond NFTs, Base is experiencing broader ecosystem growth. In the last 30 days, it processed over 27 million transactions and recorded $16 billion in decentralized application (DApp) volume, underscoring its role as one of the busiest Ethereum Layer-2 solutions.
Related: Blue-Chip NFTs Drop as Ethereum Retreats from Record Highs
How Does Base Compare to Other NFT Networks?
Despite Base’s impressive climb, Ethereum remains the leader in NFT trading with $408 million in volume over the same period. Top collections like CryptoPunks, Bored Ape Yacht Club (BAYC), Pudgy Penguins, and Moonbirds accounted for more than $200 million of Ethereum’s total activity.
Meanwhile, Polygon secured the second position with $62.29 million in NFT trading, up 15% from last month. A large share of this came from Courtyard NFTs, which represent tokenized real-world assets (RWAs) like trading cards, contributing $57.65 million in volume.
Interestingly, this rise in activity occurred amid declining floor prices for top Ethereum-based NFT collections. Data from DefiLlama shows double-digit drops for Pudgy Penguins, BAYC, and Doodles, while CryptoPunks remained relatively stable with only a minor dip.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.