The NFT market is continuously evolving, with some collections experiencing short-term fluctuations in their valuation metrics. Here’s how to stay informed in the Non-Fungible Token space. ```html Summary NFT Trends: Top Collections and Valuation Metrics ``` To identify the currently best-performing NFTs, it’s essential to analyze certain key indicators. These metrics are often provided by data aggregation websites that offer users comprehensive insights into the most popular blockchain-based NFT collections at any given time. For instance, this week, the platform CoinGecko released a ranking of the top 7 trending NFTs based on the highest percentage change in floor price over the past 24 hours from the time of publication. This indicator updates every 24 hours; to view the real-time ranking, users simply access the platform and select the “24h” filter.

This provides an up-to-date list of NFT trends based on floor price percentage changes. On the other hand, DappRadar’s ranking of top NFT collections over the last 24 hours uses Volume — defined as the total fiat value of all NFT transactions during that period — as its main indicator. If users switch to the “Top Sales” tab on DappRadar, the ranking then focuses on NFTs sold in the previous 24 hours with the highest sale prices in fiat currency. Meanwhile, the NFT Price Floor platform ranks trending NFTs primarily by market capitalization and its variation over the last 24 hours. Currently, the leaderboard there has CryptoPunks in first place with a market cap of 465, 900 ETH, followed by BAYC at 125, 000 ETH, and Pudgy Penguins in third with 87, 973 ETH. Because market capitalization tends to be more stable, drastic shifts in ranking are less common than with other indicators such as floor price changes, sale prices, or 24-hour transaction volumes, which can cause more rapid fluctuation in standings. NFT Trends: Rankings by Category and Blockchain On NFT data aggregation platforms, users can apply filters to obtain more focused information on trending collections. For example, one can filter by a particular NFT category and view rankings sorted by floor price, market cap, or volume. NFT collections today cover a broad array of categories including Games, PFP (Profile Picture), Sports, Metaverse, Collectibles, Music, Art, Real-World Assets (RWA), and many others. It’s important to note that not every platform offers the same categories or subcategories. Conversely, the blockchain category—indicating which blockchain the NFT collection is hosted on—is objective and consistent across platforms. You can view trending NFT rankings by blockchains such as Ethereum, Polygon, Immutable X, BNB Chain, among others. On CryptoSlam, for example, there is a real-time leaderboard of blockchains by NFT sales volume in the last 24 hours. Currently, Ethereum leads, followed by Bitcoin in second place and Polygon third. Interestingly, on April 22, CryptoSlam data showed that weekly NFT sales on Polygon surpassed Ethereum’s, largely driven by sales of the Courtyard collection in the RWA category. OpenSea’s Call for Regulatory Clarity in NFT Marketplaces In related news, last month the prominent NFT marketplace OpenSea submitted a letter to the US SEC’s Crypto Task Force urging clearer regulations around NFTs. OpenSea requested that the sector’s existing uncertainties be addressed, particularly the classification of NFT marketplaces—whether they should be regulated as exchanges or securities brokers. Moreover, due to the decentralized nature of the blockchains facilitating NFT transactions, marketplaces like OpenSea cannot be defined as central authorities responsible for accepting or processing payments.