Solana-based nonfungible tokens (NFTs) have achieved a significant milestone, surpassing $5 billion in all-time sales volume, as reported by CryptoSlam.
As of February 23, the cumulative sales volume for Solana-based NFTs has reached $5,014,125,016, underscoring the platform’s growing prominence in the NFT marketplace. With over 2.2 million buyers and 1.6 million sellers facilitating nearly 43 million transactions, Solana boasts a substantial user base. The recent surge in Solana NFT sales contrasts with previous stagnant performance, with monthly sales volumes hovering around $40 million until November 2023. However, since October 2023, Solana NFT sales have experienced exponential growth, reaching $365 million in December, nearly matching Ethereum’s sales volume.
Related: Decrypting Solana’s Surge: The Forces Fueling Its Challenge to Ethereum
This uptrend aligns with the bullish trajectory of the Solana token, which has seen a remarkable 302% increase in trading price over the past year. Despite a slight slowdown in January, Solana NFTs still recorded over $239 million in sales, with monthly sales volume standing at $161 million as of February. These consecutive months of robust performance have propelled Solana NFTs to surpass $1 billion in sales volume within the past nine months alone.
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