Polygon, the popular blockchain solution is leading the OpenSea nonfungible token (NFT) sales charts once more. This is now the second month that Polygon is outperforming Ethereum trading volume, with 1.5 million NFTs sold in January 2023. In other words, the platform keeps exploding in popularity after scoring more than 1 billion transactions in 2022.
The Layer 2 scaling solution Polygon seems to be growing impressively as it outperformed Ethereum for the second month consecutively, as recent reports show.
Polygon vs. Ethereum: Which One Is Indomitable?
The popular network Polygon recorded a staggering 1.5 million NFT sales on OpenSea in January, recent Dune Dashboard reports show. By comparison, Ethereum sold around 1.1 million NFTs on the same marketplace. Incredibly, it is the second month that Polygon has managed to outperform Ethereum.
In December 2022, Ethereum reported 1 million NFT sales on OpenSea. In the same month, Polygon sales surpassed 1.3 million. While both platforms are on the rise, Polygon is proving to be the one to watch recording a better start in 2023.
For instance, the network began promising partnerships with huge firms like Meta, Reddit, Adobe, and many others. Most users turned to the alternative in 2022 as Ethereum gas prices surged – one of the most significant issues in the NFT market.
Although Polygon is currently outperforming Ethereum, the latter is still leading the NFT trading volume charts in general.
Is Ethereum Going Down?
At the time of publication, Polygon has around 224,719 active NFT traders. On the other hand, Ethereum boasts 319,641 users. Furthermore, the Ethereum traders were valued at $446 million compared to the Polygon sales which came in at about $15.4 million in January.
This means that the Ethereum network is not going anywhere anytime soon. It is still in a leading position in general. Despite everything, Polygon has come a long way since 2017 when it was launched under the name ‘Matic.’ This Layer 2 scaling solution is carbon neutral, compatible with Ethereum, and cheap in the matters of gas fees – three important aspects that continue growing its popularity among the nonfungible token traders.
