Solana Blockchain Crosses $2 Billion NFT Sales
Solana continues to work to establish itself as one of the greatest smart contract-backed platforms, breaking records for the largest blockchains by all-time NFT sales volume.
Because it is one of the few protocols that solve the blockchain trilemma, Solana has been dubbed the “Ethereum Killer” (security, decentralized, and scalability).
Solana has become one of the most popular non-fungible token networks in just over two years (NFTs). Solana had a cumulative sales volume of $2.35 billion as of June 5, according to a Be[In]Crypto research.
This is a big boost for the venture after its primary asset, SOL, had its market value plummet by more than $14 billion in May.
Solana is now ranked third, behind Ronin and Ethereum, after reaching this milestone.
Flow, Polygon, WAX, Avalanche, Palm, Tezos, Waves, Binance Smart Chain (BSC), and Panini have more all-time sales volume than Solana.
What caused the increase in Solana sales?
The blockchain’s aggregate transaction counts have climbed to 83,697 unique buyers and 374,618 transactions since October 2021, when looking at the growing number of unique purchases. At the end of October, Solana had a sales volume of about $286.4 million.
Because of an 83 percent rise in unique purchasers since October, the number of new buyers of NFT on Solana hit an all-time high in January 2022. There were 153,602 distinct purchasers in January 2022, resulting in 1,014,963 transactions. This month was also Solana’s all-time high in monthly sales volume, with around $298.69 million in sales.
Source: Solana January 2022 Sales Volume Chart by CryptoSlam
Some of the prominent NFTs on Solana that contributed to this issue are Chainers, Thug Birdz, Meerkat Millionaire Country Club, Frakt, Portals, Solsteads, Cosmic Condos, SolPunks, Block stars, Akuma no Neko, Infinity Labs, and Solarians.
Solana sales peaked in September 2021 ($263.34 million), February 2022 ($206.3 million), April 2022 ($294.8 million), and May 2022 ($256.1 million).
Response to the SOL price:
SOL began trading on January 1, 2022, at $170.31, achieved an annual high of $179.43 on January 2, and a new local low of $38.36 on June 2. At the time of writing, SOL was selling for $40. Overall, SOL expenses will have dropped by 77 percent by 2022.
