NFT sales volume on the Solana network has exceeded $5 billion

In addition, the total number of NFT transactions has almost reached the 43 million mark

23.02.2024 - 13:42

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2 min

What’s new? On February 23, the volume of NFT sales on the Solana network passed the $5 billion mark, according to data from the CryptoSlam platform. The blockchain has 2,2 million buyers, as well as 1,6 million sellers of non-fungible tokens. At the same time, the total number of NFT transactions has almost reached the 43 million mark, with NFT sales on the Solana network not exceeding $40 million per month between July and October 2023. And last November saw a significant increase in the number of transactions, with the figure reaching $82 million. Compared to October 2023, the figure increased by 192%.

CryptoSlam’s data

What else is known? In December 2023, Solana’s monthly NFT sales totaled about $365 million. This record was the second-highest monthly sales volume after the record of $373 million in October 2021. Even though sales volume slowed slightly in January, NFTs in Solana still recorded more than $239 million in sales during the month. As of this writing, February’s monthly sales total is $161 million.

Solana developers have released an upgrade after a two-hour network outage

As a result of the incident, the exchange rate of the native token momentarily dropped by 5% at the moment

On February 6, Solana experienced a glitch that left the blockchain unable to process blocks for more than two hours. Solana’s developers later released software upgrade v1.17.20 for validators on the mainnet and encouraged installing it to fix the problem.

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