Solana Blockchain Surpasses $2 Billion in All-Time NFT Sales

Solana continues to struggle for its place among the many greatest sensible contracts-backed platforms after reaching new milestones with regard to the largest blockchains by all-time NFT gross sales quantity. 

Solana has been tagged as a possible Ethereum Killer after turning into one of many few protocols which have discovered a solution to the blockchain trilemma (safety, decentralized, and scalability). 

In just a little over two years, Solana has turn out to be one of many go-to chains for non-fungible tokens (NFTs). Based on Be[In]Crypto analysis, Solana had a complete gross sales quantity of round $2.35 billion, as of June 5. 

This comes as a lift to the mission after its native asset, SOL, tumbled by greater than $14 billion in market capitalization in Might.  

The milestone places Solana in third place behind Ronin and Ethereum. 

With that mentioned, Solana instructions a better all-time gross sales quantity than Circulate, Polygon, WAX, Avalanche, Palm, Tezos, Waves, Binance Sensible Chain (BSC), and Panini. 

Supply: All-Time Blockchain NFT Gross sales Quantity Rankings by CryptoSlam

What brought about hovering Solana gross sales quantity? 

When trying on the growing variety of distinctive consumers from October 2021, the surge in gross sales led to the blockchain’s ascending complete transaction counts totaling 83,697 distinctive consumers and 374,618 transactions. By the top of October, Solana’s gross sales quantity was within the area of $286.4 million. 

An 83% spike within the variety of distinctive consumers from October led to a brand new all-time excessive within the variety of new consumers of NFT on Solana in January 2022. In January 2022, distinctive consumers have been 153,602 which corresponded to 1,014,963 transactions. Coincidentally, this month additionally proved to be Solana’s all-time excessive in month-to-month gross sales quantity with round $298.69 million.

Supply: Solana January 2022 Gross sales Quantity Chart by CryptoSlam

In style NFTs on Solana that contributed to this quantity embody however are usually not restricted to Chainers, Thug Birdz, Meerkat Millionaire Nation Membership, Frakt, Portals, Solsteads, Cosmic Condos, SolPunks, Blockstars, Akuma no Neko, Infinity Labs, and Solarians. 

Different months that made noteworthy contributions to Solana gross sales have been September 2021 ($263.34 million), February 2022 ($206.3 million), April 2022 ($294.8 million), and Might 2022 ($256.1 million). 

SOL worth response 

SOL opened on Jan. 1, 2022, with a buying and selling worth of $170.31, reached a yearly excessive of $179.43 on Jan. 2, and examined a brand new native low of $38.36 on June 2. SOL was buying and selling at $40 on the time of press.

General, this equates to a 77% lower within the worth of SOL all through 2022. 

Supply: SOL/USD Chart by TradingView