Secondary gross sales quantity for Solana-based nonfungible tokens (NFT) has reached virtually $500 million for the reason that begin of August.
In keeping with information from CryptoSlam, secondary gross sales of Solana NFTs have generated a complete of roughly $497.7 million from round 348,000 transactions as of Tuesday, with the typical sale per NFT tallying in at $1,500.
The information reveals that Solana noticed a file month for secondary NFT gross sales quantity throughout September with a complete of $189.4 million. Whereas Solana is seen by some as an “Ethereum killer,” the Ethereum blockchain stays the most well-liked, with NFT aficionados and secondary gross sales on Ethereum topping $2.2 billion that very same month.
Secondary NFT gross sales quantity on Solana. Supply: CryptoSlam
Messari analysis analyst Mason Nystrom highlighted the information through Twitter on Wednesday and famous that whereas Ethereum nonetheless “dwarfs Solana in complete NFT secondary gross sales,” the upstart community has shortly established itself as one of many high NFT blockchains within the area of some months.
Whereas Solana shows promising metrics in distinctive addresses (patrons and sellers) and a decrease avg NFT sale worth, Ethereum nonetheless dwarfs Solana in complete NFT secondary volumes.
Nonetheless, Solana has change into one of many high NFT blockchains by secondary buying and selling in mere months. pic.twitter.com/9HfOp7IRut
— Mason Nystrom (@masonnystrom) November 2, 2021
CryptoSlam’s rankings record of the highest NFT blockchains sees Solana at the moment sitting at fourth when it comes to 24-hour secondary quantity with $1.9 million. Main the pack are Ethereum ($37.7 million), Ronin ($23.5 million) and Wax ($4.5 million).
Solana’s high NFT venture is the Degenerate Ape Academy, which has generated $105.9 million price of secondary gross sales since its launch in mid-August. The Degenerate Ape NFTs depict animated gorilla avatars with distinctive traits, and the venture has seen $454,000 price of secondary gross sales over the previous 24 hours.
Degenerate Ape NFTs. Supply: Degenerate Ape Academy
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In keeping with information from CoinGecko, the worth of Solana’s SOL token has gained 30.3% over the previous 30 days to sit down at round $225 on the time of writing. This latest pump has seen SOL tag a brand new all-time excessive of $229.76 earlier on Wednesday. The market capitalization of SOL is now round $68.1 billion, making it the fifth-ranked digital asset when it comes to complete capitalization, sitting barely forward of fellow “Ethereum killer” Cardano (ADA), which has a market cap of $63.1 billion.
Cointelegraph Markets Professional has a worth goal of $250 per SOL by year-end, citing on-chain information from the decentralized finance sector and the derivatives market as key indicators for the prediction.
