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Friday, December 3, 2021

Solana NFT Sales Reach $500 Million In Three Months

The NFT based on Solana has reached a sum of $500 million for its secondary sales volume since the beginning of August. According to data reported from CryptoSlam, the secondary sales of the NFTs of the cryptocurrency have gone on to generate a sum of around $497.7 million from around 348,000 transactions as of Tuesday, with the NFT average sale getting tallied at around $1,500.

This data simply highlights that the cryptocurrency did witness quite a record month for the sales volume on its secondary NFT during September with a total sum of $189.4 million. Although this cryptocurrency has been recently seen as an Ethereum killer, the blockchain does remain the most popular.

Solana NFT riding the wave

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Mason Nystrom, the research analyst of Messari, went on to highlight this information through Twitter on Wednesday while noting that although Ethereum still dwarfs Solana in total secondary sales of NFT, the fledgling network has gone on to establish itself as one of the biggest NFT blockchains in the span of a few months. According to the rankings list generated by CryptoSlam, SOL is currently fourth with a secondary volume over 24 hours placed at $1.9 million. 

The top NFT project of Solana has been announced to be the Degenerate Ape Academy, which has gone on to generate close to $105.9 million worth of secondary sales ever since it launched in the middle of August. The NFTs depict animated gorilla avatars with a few cool traits, with the project seeing $454,000 worth of secondary sales over 24 hours.

According to Cointelegraph Markets Pro, the price target for Solana by the end of the year has been set at $250. 

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