- NFT sales on the Solana blockchain have surged over the past few months.
- The blockchain recorded a new all-time sales volume on Friday.
- NFT wash sales have also surged on the network.
The total volume of non-fungible token (NFT) sales on the Solana blockchain has skyrocketed following a surge in NFT trading activity on the network over the last few months.
Since November 2023, the monthly sales volume of Solana-based NFTs has topped a record volume above $50 million, with December recording the highest level of $365 million. On February 23, the all-time volume reached a new level.
Solana NFT Sales Reach $5 Billion
According to CryptoSlam data, the all-time sales volume for Solana-based NFTs crossed the $5 billion mark on February 23 as unique buyers surged to 299,511, up from 86,381 in November 2023.
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As of press time, the all-time sales volume had reached $5,014,615,948, with February 2024 alone accounting for $162,312,431. The number of all-time buyers stood at 2,227,183 against 1,617,190 sellers, indicating the growing popularity of NFTs among non-creators.
The data further indicated that the all-time total NFT transactions on the Solana network had reached 42,951,198, with about 3,552,462 representing wash transactions. A wash transaction happens when the buyer and the seller of the NFT are the same person or two individuals colluding.
In terms of monthly performance, February has seen 2,935,941 transactions, lower than January’s 4,565,475 and December’s all-time high of 6,582,770.
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Notably, February’s NFT wash sales totaled $30,924,496.17, higher than January’s $22,634,879.13 and the highest ever captured by CryptoSlam data.
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