Ethereum News Today: Base Surpasses Solana in NFT Volume as Ethereum's NFT Giants Falter

Coinbase's layer-2 network, Base, has climbed to the third position in non-fungible token (NFT) trading volume after experiencing a 70% surge in the last 30 days. According to data from DappRadar, Base's NFT trading volume reached $47.67 million during this period, surpassing networks like Immutable zkEVM and Solana, which are currently ranked fourth and fifth by 30-day volume, respectively [2]. This surge has been driven by collections such as Get Based, DX Terminal, and Based Style, which together recorded approximately $25 million in NFT trading volume. The network's activity is not limited to NFTs; it processed over 27 million transactions and recorded more than $16 billion in decentralized application (DApp) volume in the last 30 days [2].

Despite Base's strong performance, Ethereum remains the dominant network for NFTs, with DappRadar reporting that it recorded $408 million in trading volume over the same time period. Ethereum's leading NFT collections, including CryptoPunks, Pudgy Penguins, Moonbirds, the Bored Ape Yacht Club (BAYC), and Lil Pudgys, collectively accounted for over $200 million in trading volume [2]. However, Ethereum's market is facing challenges as the floor prices of blue-chip NFT collections have declined recently. Data from DefiLlama indicates that the floor prices of top Ethereum-based NFT collections have experienced double-digit percentage declines, with Pudgy Penguins, BAYC, and Doodles all seeing significant drops [3].

Polygon remains the second-largest network by 30-day NFT trading volume, with $62.29 million in volume, representing a 15% increase in the last 30 days. A significant portion of Polygon's NFT volume comes from Courtyard NFTs, which represent tokenized versions of real-world assets (RWAs) such as trading cards. These NFTs accounted for $57.65 million in volume, a 21% increase over the past month [2]. This trend suggests that Polygon continues to attract substantial interest in NFTs, especially in the realm of RWAs.

The broader NFT market has also experienced volatility, with the total NFT market cap dropping from $8 billion to $6.46 billion, as reported by CoinGecko. This decline marks a 4.71% reduction in the last 24 hours, with the total daily NFT sales volume reaching $19.8 million. Ethereum's recent record high of $4,957 has been followed by a pullback to around $4,400, with analysts noting that support levels between $3,900 and $4,000 could be critical for future price movements [3].

Notably, Ethereum's Bored Ape Yacht Club (BAYC) has seen its floor price drop by 8.30% in the past day and 14.41% over the week. Other major collections have also experienced significant declines, with Moonbirds and Pudgy Penguins both recording double-digit percentage drops in their floor prices. While some smaller projects have shown resilience, such as Quills Adventure, which saw a 72.39% increase over the week, the overall trend in the NFT market remains downward [3].

Source:

[1] NVDA Stock Quote Price and Forecast (https://www.cnn.com/markets/stocks/NVDA)

[2] Base claims top 3 spot in 30-day NFT volume: DappRadar (https://cointelegraph.com/news/base-third-nft-trading-volume-over-solana-30-days)

[3] Top NFT collections endure double-digit dips as ETH falls ... (https://www.mitrade.com/insights/news/live-news/article-3-1070381-20250826)