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NFT Transactions on Solana Blockchain Exceed $1.5 Billion

NFT Transactions on Solana Blockchain Exceed $1.5 Billion

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Answer NFT Transactions on Solana Blockchain Exceed $1.5 Billion

The total transaction volume of non-fungible NFT tokens based on the Solana blockchain has exceeded $1.5 billion, according to data provided by the data platform.”cryptoslam“.

Solana was able to hit this new milestone just months after it crossed the $1 billion mark for the first time.

The NFT issued and operated on the Solana blockchain has generated more than two million transactions with 314,910 buyers and 260,844 sellers.

Last September, an NFT named “Degenerate Ape” managed to bring in $1 million, a first for Solana, joining the club of notable existing NFT projects that are mostly based on the Ethereum blockchain such as CryptoPunks.

Solana gained fame in 2021, emerging as an inexpensive alternative to Ethereum, which is still struggling with high transaction fees and relatively slow transactions.

Read:Bitcoin Reaches New Historic High, Ripple Still in Trouble

CryptoSlam data shows that over the past week, sales of NFT Solana saw an increase of 55.34%.

Earlier this year, banking giant JPMorgan predicted that Solana could outperform Ethereum in the NFT sector despite the fact that Solana is less decentralized.

Ethereum is still far ahead of its nearest competitor, with Ethereum achieving massive sales of $21 billion.

Currently, Solana’s non-fungible token markets are powered by it.

OpenSea is expected to integrate “NFT Solana Projects” as early as this April, which could give a significant boost to network adoption.

Rumors about it started circulating since last year.

Simultaneously, the digital currency SOL has once again surpassed the market capitalization of XRP of Ripple, becoming the sixth largest cryptocurrency by total market capitalization.

The cryptocurrency “Solana” is currently priced at $140 on major trading platforms.

Read:Where will the bitcoin price go? Does it bounce up or keep going down?

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Japan’s central bank asks G7 to speed up regulation of cryptocurrency


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