The world of non-fungible tokens (NFTs) witnessed a remarkable surge in trading activity last week, with both the Solana and Bitcoin networks registering record-breaking numbers in daily active traders (DAT), according to research data from OurNetwork. Solana achieved an all-time high of 59,300 DAT, while Bitcoin hit a peak of 25,600 DAT, showcasing the growing interest and adoption of NFTs across different blockchain ecosystems.

Solana's impressive DAT figure represents a remarkable fourfold increase from the approximately 15,000 daily traders observed earlier in the week. This surge in activity can be attributed to the influx of wallets engaging in sub-$10 transactions on popular NFT platforms like Magic Eden and Tensor. Over the past week, Magic Eden has captured a significant 74% of Solana's trading volume market share and 38% of its trader market share, establishing itself as a dominant force in the Solana NFT ecosystem. Tensor, on the other hand, has secured an impressive 18% of the trading volume and a commanding 61% of the trader market share.

Bitcoin's NFT trading historical peak can be attributed to the anticipation surrounding the launch of the highly anticipated Runes protocol. However, the trader count experienced a sharp decline to around 7,000 the day following the launch, indicating a potential cool-off period after the initial hype. Magic Eden has emerged as the primary hub for Bitcoin's NFT activity, commanding an impressive 82% of both active traders and trading volume over the last seven days, with OKX trailing at 16% for the same metrics.

Despite maintaining its dominance in terms of trading volume and daily active traders, Ethereum's weekly NFT trader numbers have been on a decline over the past two years. Last week, less than 36,000 wallets engaged in NFT trades on the Ethereum network, a significant drawdown compared to the 218,000 wallets recorded in April 2022. Similarly, the weekly volume has plummeted from the $1.4 billion peak witnessed in April last year to approximately $100 million per day currently.

The Ethereum NFT landscape has also witnessed changes in marketplace dominance. While OpenSea and Blur have been engaged in a fierce rivalry, the rise of Magic Eden as a competitor since its Ethereum marketplace debut in February has introduced a new dynamic. Magic Eden has quickly garnered over 20% of Ethereum's NFT volume in the last week alone, challenging the established players.

Despite Blur maintaining a majority share with over 50% volume, OpenSea's presence has diminished to 13.5% in the recent seven-day period. However, OpenSea still leads in trader count on Ethereum, attracting about 4,000 traders daily, compared to Blur's 2,500 and Magic Eden's under 600. Notably, over the last two years, OpenSea has experienced a dramatic 90% drop in its weekly trader base.

On the significant trades front, a remarkable transaction involving the CryptoPunks NFT marketplace saw the purchase of a highly coveted alien punk for a staggering 4,000 ETH, valued at over $12 million. This sale propelled CryptoPunks to the second-highest platform by volume on Ethereum for that day, with only Blur surpassing it with $15.2 million in volume.

The record-breaking trading volumes observed on the Solana and Bitcoin networks serve as a testament to the growing mainstream adoption of these digital assets. While Ethereum's dominance remains, the shifting marketplace dynamics and the emergence of new players like Magic Eden suggest an increasingly competitive and dynamic NFT landscape.