Base NFT Sales Rise +50% After Coinbase Won SEC’s Appeal Case

Base, an Ethereum Layer Two blockchain network, has climbed in rankings, becoming the fourth most-traded blockchain network in the global non-fungible token ecosystem. This notable market milestone is most likely associated with its creator’s recent appeal case victory against the United States Securities and Exchange Commission. Base NFT sales volume has surged over 52% in the past 24 hours.

🚨News: @coinbase wins appeal in SEC's 2023 lawsuit accusing it of operating as an unregistered exchange, declaring SOL and other cryptocurrencies as securities. Case heads to U.S. Court of Appeals, with potential industry-wide impact. pic.twitter.com/SobH8tjMN6

— SolanaFloor (@SolanaFloor) January 7, 2025

Base Emerges The 4th Top NFT Blockchain Network

Data compiled by CryptoSlam.io, an on-chain crypto market data aggregator and a multi-chain non-fungible token explorer, shows that the Base blockchain network has surged in trading sales volume. In the past 24 hours, the Base L2-based NFTs have amassed a trading sales volume of $1.9 million. During this period, Base NFT trading sales volume has climbed by over 52% from the past day. This remarkable performance has pushed the Base Layer Two (L2) blockchain network to become the fourth most-traded blockchain network in the NFT market.

Ethereum, a renowned peer-to-peer blockchain network popularly known in the non-fungible token market for powering most blue-chip NFT collections, is today’s top-traded blockchain network in the NFT market. In the past 24 hours, the Ethereum-based NFT collections have raised a trading sales volume of $10 million. During this time, the Ethereum NFT trading sales volume has plunged 14.92% from the past day.

Bitcoin, the same blockchain network powering the flagship crypto Bitcoin and renowned in the NFT market for hosting Bitcoin ordinals, Runes, and BRC-20 non-fungible token collections, is today’s second most-traded blockchain network in the NFT ecosystem. In the past 24 hours, the Bitcoin-based NFT collections have attracted a trading sales volume of $5.1 million. The Bitcoin NFT trading sales volume has surged by 12.97% from the past day.

Solana, an open-source blockchain that supports smart contracts, including non-fungible tokens and various decentralized applications, is today’s third most-traded blockchain network in the NFT ecosystem. In the past 24 hours, the Solana-based NFT collections have recorded a trading sales volume of $3.6 million, up 39% from the previous day.

Coinbase Wins Appeal In 2023 SEC’s Lawsuit

On January 8, 2025, Katherine Polk Failla, a resident Judge in the United States District Court Southern District of New York, granted Coinbase, the company behind the Coinbase Crypto Exchange and Base Layer Two network, the order for an interlocutory appeal. Coinbase and the United States Securities and Exchange Commission entered a standoff in 2023. At the time, the United States crypto regulatory commission accused it of operating as an unregistered exchange, declaring SOL and other cryptocurrencies as securities.

Finally we can say goodbye to SEC corruption

— Average Joe Crypto (@AverageJoCrypt0) January 7, 2025

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