Solana [SOL] NFTs stand to be the undisputed king of trading volumes in Q2 2022 as per latest report

ambcrypto.com:

DappRadar, a leading analytics platform for decentralized application (dapp), published a report on 5 July. The report stated that despite the harsh crypto winter that has plagued the year so far, the performance of the NFTs and Blockchain gaming ecosystems in the last quarter provided a silver lining. Additionally, this performance would keep investors and users optimistic about the future direction of the dapp industry.

DappRadar, via its report, stated that despite the bloodbath that plagued the general cryptocurrency market and the collapse of the Terra ecosystem, the demand for NFTs between April and June registered an uptick. Additionally, DappRadar found that on a Year-on-Year (YoY) basis, the NFTs trading volume and sales count went up by 533% and 59%, respectively, in Q2 2022 as compared with the performance in Q2 2021.

Source: DappRadar

Despite an uptick in sales in the last quarter, DappRadar also confirmed a decline in marketplaces’ volume within the period under review. Since May, marketplaces’ volume measured in USD has dropped by 70%. Measured in ETH, the volume has also dropped by 55% within the same period. To compensate for this decline, the NFTs market capitalization in terms of ETH has exceeded five million ETH. This represented an 8% drop since April but a 20% growth since May.

Source: DappRadar

Furthermore, Metaverse-based NFT collections, DappRadar found that with an overall growth of 96% in the last quarter, “the trading volume for ETH-based collections has increased by 101%, while Polygon collections have unfortunately declined by 26%.” On a YoY basis, ETH-based collections grew by 2093%, while Polygon grew by 456% in Q2 of 2022 when compared with performance in Q2 2021.

According to the report,