Solana NFT Sales Have Skyrocketed

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Last Updated on January 3, 2024 by Bitfinsider

Solana’s recent surge in fortunes has caused an unexpected effect in the NFT market: monthly sales volume of NFTs on the network will surpass that of NFTs on Ethereum in December 2023 for the first time ever.

Solana NFT sales were approximately $366.5 million in December, according to data from analytics site CryptoSlam, compared to $353.2 million on Ethereum. CryptoSlam’s “organic” sales data exclude suspicious trades labeled as “wash trading,” with around $381 million in Ethereum sales excluded and only $10.1 million in Solana sales excluded.

According to CryptoSlam, Solana’s total of $366.5 million in trades nearly exceeded the network’s all-time high, which was at $373.5 million in October 2021, when the area was just heating up. Daily Solana NFT sales volume has occasionally surpassed Ethereum, but never in terms of a complete month’s worth of trading.

In December, Solana witnessed nearly double the number of unique buyers and sellers, as well as considerably more total NFT transactions. According to CryptoSlam, there are over 218,000 suppliers and 279,000 buyers on Solana, with nearly 6.6 million NFT transactions. On Ethereum, there are around 114,000 vendors and roughly 143,000 buyers throughout 698,000 transactions.

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