Solana NFT sales volume hits $5b

On Feb. 23, the total volume of non-fungible tokens (NFT) sales on the Solana network exceeded the $5 billion mark.

According to the CryptoSlam platform, the Solana blockchain has 2.2 million buyers, as well as 1.6 million sellers of NFTs. At the same time, the total number of transactions in the NFT direction has almost reached 43 million.

At the same time, in the period from July to October 2023, the volume of NFT sales on the Solana network did not exceed $40 million per month. However, in November last year there was a significant increase in the number of transactions. Sales volume for this reporting period reached $82 million. Compared to October 2023, the figure increased by 192%.

In subsequent months, the direction continued to gain momentum in terms of sales. In January 2024, NFTs worth $239 million were sold on the Solana network. As of Feb. 23 2024, the figure is $161 million.

Over the previous nine months, sales volume exceeded $1 billion. At the time of writing, a total of $5 billion worth of NFTs had been sold on the Solana network.

Last month, the volume of all transactions in Solana exceeded $951 billion. Compared to the previous month, the figure increased by 30%. It was then $738.8 billion. Also in early 2024, the company said that the number of active developers in the Solana ecosystem had ranged from 2,500 to more than 3,000 monthly over the past year.