Ethereum Dominates NFT Market While Base Emerges as Fast-Growing Competitor

Ethereum continues to cement its position as the leading blockchain for non-fungible token trading, commanding $408 million in transaction volume over the past 30 days. The network’s superiority stems largely from established blue-chip collections—including CryptoPunks, Pudgy Penguins, Moonbirds, the Bored Ape Yacht Club (BAYC), and Lil Pudgys—which collectively generated over $200 million in NFT trading activity. These flagship collections represent the legal and established tier of the digital collectibles market.

Base’s Rapid Expansion in the NFT Landscape

However, the real story lies in Base’s meteoric rise through the rankings. Coinbase’s layer-2 network surged into third place in the 30-day NFT trading volume standings, driven by a remarkable 70% increase that pushed its volume to $47.67 million. This growth trajectory has positioned Base ahead of competitors including Immutable zkEVM and Solana in the monthly rankings.

The momentum on Base stems from emerging collections like Get Based, DX Terminal, and Based Style, which collectively accounted for approximately $25 million in trading volume. This diversification across multiple projects—ranging from gaming-focused assets to anime-inspired digital collectibles—demonstrates the network’s capacity to attract varied creator communities and builder ecosystems. The surge reflects growing developer interest in Base’s infrastructure and the broader appeal of layer-2 solutions for NFT creators seeking lower transaction costs.

Ecosystem Growth Beyond NFTs

Base’s expansion extends far beyond the NFT segment. The network processed over 27 million transactions within the 30-day period and facilitated more than $16 billion in total decentralized application volume, showcasing its development into a comprehensive ecosystem. This activity level indicates that Base is competing effectively across multiple use cases, not merely in digital collectibles.

Polygon Maintains Second Position

Meanwhile, Polygon has held its position as the second-ranked blockchain for 30-day NFT trading volume at $62.29 million, representing a 15% increase over the month. The chain’s performance is bolstered significantly by Courtyard NFTs, which represent tokenized versions of real-world assets (RWAs) like trading cards. Courtyard’s legal framework for real-world asset tokenization generated $57.65 million in volume, up 21% month-over-month, highlighting the growing intersection between traditional collectibles and blockchain infrastructure.

Market Headwinds and Price Corrections

Despite robust trading volumes across networks, blue-chip NFT collections encountered downward pressure on floor prices. Pudgy Penguins, BAYC, and Doodles all experienced double-digit percentage declines in floor values, though CryptoPunks remained relatively stable with less than a 2% adjustment. This price correction occurs even as transaction volumes climb, suggesting a market shift toward increased trading activity at lower valuations.