Solana-based nonfungible tokens (NFTs) recorded an all-time gross sales quantity of over $5 billion after an uptick in NFT buying and selling exercise on the blockchain within the final 4 months.
On Feb. 23, knowledge aggregator CryptoSlam confirmed that the all-time gross sales quantity for NFTs based mostly on the Solana community is already at $5,013,847,972. The information additionally reveals that the blockchain has over 2.2 million consumers and 1.6 million sellers. This brings the full variety of NFT transactions throughout the blockchain to virtually 43 million.
Solana NFTs didn’t do as effectively within the 4 months earlier than November 2023. Since July 2023, the month-to-month gross sales quantity for NFTs based mostly on Solana struggled to file a quantity above $40 million. Nevertheless, issues began to vary after October 2023.
The gross sales quantity for Solana-based NFTs began displaying indicators of life when it hit about $82 million in month-to-month gross sales in November 2023 — a 192% soar from the earlier month when it solely had about $28 million in month-to-month gross sales.
Moreover, Solana NFTs continued their momentum within the following months. In December 2023, NFTs on Solana recorded round $365 million in month-to-month gross sales. The file was its second-highest month-to-month gross sales quantity, following its $373 million file in October 2021.
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Whereas the gross sales quantity slowed down slightly in January, NFTs on Solana nonetheless recorded over $239 million in gross sales in the course of the month. On the time of writing, February’s month-to-month gross sales quantity stands at $161 million. Solana NFT’s gross sales efficiency has risen in current months, with over $1 billion in gross sales quantity within the final 9 months.
The uptick in Solana NFT gross sales in December 2023 coincided with Solana’s (SOL) token’s bullish value motion. On Dec. 26, 2023, SOL hit a excessive of $121.45, with a buying and selling quantity of $5.7 billion, based on the coin knowledge tracker CoinGecko.
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