Solana NFT Sales Volume Breaks Record of $5 Billion

Crypto News – Following a spike in NFT trading activity on the blockchain throughout the previous four months, Solana-based NFTs generated an all-time sales volume of over $5 billion.

Solana NFT Sales Volume Breaks Record of $5 Billion

The all-time sales volume for NFTs based on the Solana network is already $5,013,847,972, according to data aggregator CryptoSlam, which released its data on February 23. Additionally, approximately 2.2 million buyers and 1.6 million vendors are listed on the blockchain, according to the data. With this, the blockchain now has around 43 million NFT transactions overall.

In the four months leading up to November 2023, Solana NFTs did not perform as well. Since July 2023, it has been difficult for NFTs based in Solana to record a monthly sales volume higher than $40 million. After October 2023, though, things started to shift.

Solana NFT Sales Hit Second Record in December 2023

When Solana-based NFTs’ monthly sales reached over $82 million in November 2023, they began to show signs of life. This was a 192% increase from the previous month, when their sales were just about $28 million. In addition, Solana NFTs kept growing during the ensuing months. NFTs on Solana reported monthly sales of almost $365 million in December 2023. Its October 2021 record of $373 million was the largest monthly sales volume, and this record was the second-highest. Despite a slight slowdown in sales volume, NFTs on Solana managed to register over $239 million in sales in January.