Blockchains Compete for NFT Market Leadership

Blockchains are currently vying for dominance in the NFT market by increasing annual trading volume, transaction counts, and user engagement. In February, Ethereum retained its lead, while Bitcoin, Solana, and Polygon showed significant growth. Here’s an analysis of the twelve top blockchains that recorded NFT sales.

Top Blockchains by Monthly NFT Sales Volume

Ethereum Maintains Its NFT Market Leadership

In February 2025, Ethereum continued to lead the NFT market with $223 million in sales from 623,602 transactions. The platform attracted 36,745 buyers and 31,744 sellers, reinforcing its leadership in blue-chip NFT collections despite high gas fees. The network benefits from high liquidity, robust security, and a diverse ecosystem.

Bitcoin’s NFT Ecosystem Expands Rapidly

Bitcoin ranked second in the NFT sector, recording $104.8 million in sales through 158,439 transactions. The emergence of Bitcoin-native NFTs and the Ordinals phenomenon brought in 3,498 buyers and 3,681 sellers. Innovative inscription methods have allowed Bitcoin to penetrate the NFT market, altering perceptions of blockchain’s utility.

Solana, Polygon, and Mythos Drive High Transactions

Solana retained a strong market position with NFT sales totaling $51.3 million and 723,603 transactions. Its low fees and rapid processing facilitated 16,584 buyers and 21,704 sellers. Polygon also excelled, achieving $44.4 million in sales and a staggering 1,077,829 transactions, catering mainly to the gaming sector with 11,125 buyers and 3,409 sellers. Mythos emerged as a promising player, boasting $41.1 million in sales and 1.6 million transactions, supported by 10,122 sellers and 12,148 buyers.

Emerging Blockchains Gain Traction in NFT Space

Immutable X focused on gaming NFTs, generating $20.8 million in sales from 34,478 transactions, with participation from 1,616 buyers and 1,714 sellers. The Base Layer-2 blockchain by Coinbase saw $13.8 million in transactions with 353,387 operations and 2,057 buyers. BNB Chain recorded $8.1 million in sales via 28,427 transactions, involving 4,544 buyers and 2,365 sellers. Flow generated $5 million from 304,138 transactions, despite a decline in trading volume, maintaining its presence. Ronin, Cardano, and Avalanche rounded out the list.

The Future of NFT Market Competition

Ethereum’s dominance persists, while Bitcoin’s rapid market growth signals shifting NFT trends. The competition intensifies among Solana, Polygon, and Mythos as Base and Immutable X solidify their market positions.