Solana’s NFT sales surge to $5 billion in volume.
The Solana network achieved a major milestone on February 23, surpassing $5 billion in total sales of non-fungible tokens (NFTs). This information comes from the CryptoSlam platform, which reveals that there are currently 2.2 million buyers and 1.6 million sellers of NFTs on the Solana blockchain. Furthermore, the number of transactions in the NFT market has nearly reached 43 million.
Interestingly, between July and October 2023, the monthly volume of NFT sales on the Solana network did not exceed $40 million. However, there was a significant surge in transactions in November of that year. Sales volume for that month reached $82 million, reflecting a 192% increase compared to October 2023.
This upward trend in sales continued in the following months. In January 2024, NFTs worth $239 million were sold on the Solana network. As of February 23, 2024, the sales figure stands at $161 million.
Looking at the bigger picture, the total sales volume of NFTs on the Solana network has exceeded $1 billion over the past nine months. At present, the cumulative value of NFTs sold on Solana amounts to $5 billion.
In terms of overall transactions, Solana experienced a remarkable increase in volume. Last month, the total transaction volume in Solana exceeded $951 billion, marking a 30% increase compared to the previous month’s figure of $738.8 billion. Additionally, at the beginning of 2024, it was reported that the number of active developers in the Solana ecosystem ranged from 2,500 to over 3,000 on a monthly basis throughout the past year.
