CoinEfficiency

NFT Collections DeGods and y00ts Experience Surge After Blockchain Shift

Discover how DeGods and y00ts NFT collections saw significant volume increases after moving from Solana to Ethereum and Polygon blockchains.
Published on 2022-12-27

NFT Volume Surge After Blockchain Migration

The NFT collections DeGods and y00ts have experienced a substantial rise in daily trading volumes following their transition from the Solana blockchain to Ethereum and Polygon, respectively. This strategic shift has led to a notable increase in market activity and interest.

DeGods Transition to Ethereum

The decision by DeGods to migrate to the Ethereum blockchain resulted in a remarkable 187% increase in daily volume. This move not only expanded its market presence but also elevated the average price from 426 SOL to 566 SOL, marking a 33% price surge. This transition underscores the growing appeal and potential profitability of Ethereum for NFT projects.

y00ts Embrace Polygon

Similarly, y00ts witnessed an impressive 442% rise in daily volume post-announcement of its move to Polygon. This shift has opened new opportunities for growth within the Polygon ecosystem, known for its scalability and user-friendly features. The significant jump in trading activity highlights the benefits of leveraging Polygon's capabilities for NFT growth.

Solana's $5 Million Proposal

In light of these developments, the DeGods team reportedly requested $5 million from the Solana Foundation to remain on the Solana blockchain. This request indicates the competitive nature of blockchain platforms vying for popular NFT projects and the financial considerations involved.

Conclusion

The strategic blockchain transitions by DeGods and y00ts have proven to be highly beneficial, resulting in increased volumes and enhanced market dynamics. These moves demonstrate the importance of choosing the right blockchain platform to maximize growth and engagement in the NFT space. As the NFT market evolves, such strategic decisions will continue to shape the landscape.

What is Coinefficiency?

Coinefficiency is your go-to platform for optimizing cryptocurrency trading, investments and strategies. We provide a comprehensive suite of tools to analyze market trends, monitor price movements, and execute effective trading strategies. Whether you're a seasoned trader or new to crypto, Coinefficiency helps you maximize your profits with data-driven insights.

Why Use Coinefficiency?

  • Advanced market analytics to identify trading opportunities.
  • Compare markets relative performance.
  • Understand market cycles over time. See market levels.
  • Compare buy-and-hold, portfolio rebalancing, Dollar-Cost-Averaging trading strategies.

With Coinefficiency, you can stay ahead of the market and execute efficient trading strategies effortlessly.

Get Started with Coinefficiency

Ready to optimize your crypto investments? Take control of your portfolio with cutting-edge tools designed for both beginners and experts.