Coinbase’s Layer-2 blockchain Base has made significant strides in the NFT market, securing the third position in global trading volume over the last month.
70% Surge in NFT Trading Volume
Over the last month, Base recorded $47.67 million in NFT trading volume, completing a 70% surge that pushed it past competitors like Immutable zkEVM and Solana, which now rank fourth and fifth, respectively.
The surge was largely driven by collections like Get Based, DX Terminal, and Based Style, which together accounted for nearly $25 million in volume. Beyond NFTs, Base has also become one of the busiest ecosystems overall: in the past 30 days, the network processed 27 million transactions and more than $16 billion in dApp volume.
Ethereum Remains Market Leader
Despite Base’s momentum, Ethereum remains the NFT market leader, logging $408 million in trading volume in the same period. Blue-chip collections like CryptoPunks, Pudgy Penguins, Moonbirds, and BAYC generated over $200 million in combined activity. However, this dominance comes against a backdrop of declining floor prices.
NFT Market Outlook
The competition among Ethereum, Polygon, and Base underscores the shifting dynamics of NFT adoption. With Base rapidly climbing the ranks and diversifying its ecosystem activity, analysts suggest it could continue to eat into Solana and Immutable’s market share if growth remains steady.
Thus, Base's growth in the NFT segment highlights the changing landscape of the market and suggests potential for further strengthening of its position.
