Solana Blockchain Tops $2 Billion All-Time NFT Sales Despite Market Slump

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Solana

Solana is head-strong in complete command-and-conquer form, hitting new milestones left and right. It has just notched its highest all-time NFT sales volume, with over $2.35 billion as of this writing.

This new milestone has placed Solana in third place, following Ethereum and Ronin, two of its biggest rivals.

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Solana Leads With $2.35 Billion ATH

Coined as the “Ethereum Killer,” Solana has catapulted to be the most popular blockchain platform for NFTs as more and more NFTs are attracted to it for a big reason.

In a span of merely two years, Solana has successfully battled the three most common problems with blockchains – decentralization, security, and stability.

June proved to be Solana’s lucky month, with an ATH of over $298.69 million in total sales volume (Forkast News).

With this all-time high in sales volume, SOL has now surpassed the sales volumes of its peers, like Avalanche, Flow, Binance Smart Chain (BSC), Palm, Polygon, Panini, Waves, WAX, Waves, and Tezos.

On the other hand, Solana’s native token SOL has suffered a dip of more than $14 billion in market capitalization in May.

Solana’s surge has been triggered mainly by the sudden increase of unique buyers (83,697) since October 2021, which also propelled the sales to over 374,618 transactions or a whopping total of $286.4 million.

June – Solana’s Lucky Month

The unique buyer count increased by 83% from October, which led to a new milestone or all-time high in NFT new buyers (153,602) in January 2022, with over 1,014,963 transactions.

June also proved to be Solana’s lucky month, with an ATH hovering more than $298.69 million in total sales volume.

SOL total market cap at $13.22 billion on the daily chart | Source: TradingView.com

The most popular NFTs that beefed up the total sales volume for Solana comprise the following:

Thug Birdz, Infinity Labs, Solsteads, Chainers, Meerkat Millionaire Country Club, SolPunks, Solarians, Akuma no Neko, Cosmic Condos, Portals, and Frakt.

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Other months that are monumental to the surge in sales include September 2021 with a sales volume of $263.34 million, February 2022 at $206.3 million, and April 2022 at a whopping $294.8 million, and May 2022 with over $256.1 million.

SOL opened the year with a bang, trading at $170.31 on January 1, 2022, and then reached an ATH of $179.43 the following day or on January 2.

These figures were enough to test the new low of SOL at $38.36 on June 2. SOL is currently trading at $40 as of this writing.

Overall, this equates to a 77% decrease in the price of SOL throughout 2022.

Featured image from Bitcoin News, chart from TradingView.com

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