Solana Blockchain Exceeds $2 Billion in Total NFT Sales

Solana Blockchain Exceeds $2 Billion in Total NFT Sales

June 6, 2022 Off By Roland G

Solana reached new benchmarks in terms of the largest blockchains by all-time NFT sales volume.

Solana (SOL) | Source: Gemini

The so-called “Ethereum Killer,” which aims to become one of the few protocols to solve the blockchain’s issues, including security, decentralization, and scalability, has become one of the go-to chains for non-fungible tokens (NFTs) in just over two years. Solana has a cumulative sales volume of roughly $2.35 billion as of June 5, according to CryptoSlam.

This comes as a relief to the project after its original asset, SOL, saw its market capitalization plummet by more than $14 billion in May.

The achievement places Solana third, behind Ronin and Ethereum. Notably, Solana is still behind Flow, Polygon, WAX, Avalanche, Palm, Tezos, Waves, Binance Smart Chain (BSC), and Panini in terms of all-time sales volume.

CryptoSlam NFT data

Looking at the increasing number of unique buyers from October 2021, the blockchain’s escalating total transaction counts reached 83,697 unique buyers and 374,618 transactions. Solana’s sales volume had reached $286.4 million by October.

This growth of 83% in the number of unique buyers since October resulted in a new all-time high in the number of new buyers of NFTs on Solana in January 2022. At that time, there were 153,602 unique buyers, which equated to 1,014,963 transactions. This month, Solana reached another all-time high in monthly sales volume, at about $298.69 million.