Solana secondary NFT’s excellent performance, sales reach $500M in 3 months

Solana-based Non-Fungible Token (NFT) is performing pretty well. The secondary sales volume of the NFT has almost touched $500 million since the August start.

As per the data by CryptoSlam, secondary sales have brought around $498 million from more than 348,000 transactions till date. The average sale per NFT is coming to around $1,500.

Data implies that the Solana NFT witnessed a record high for secondary NFT sales volume during September, marking $189.4 million. 

Amidst everyone calling Solana an “Ethereum killer” based on the coin’s surging rate, the Ethereum blockchain is still more popular. Notably, the NFT aficionados and secondary sales on Ethereum totaled $2.2 billion during the same month.

Secondary NFT sales volume on Solana. Source: CryptoSlam

The ranking list of the top NFT blockchains by Cryptoslam puts Solana at fourth position in the 24-hour secondary volume of $1.9 million. Ethereum ($37.7 million), Ronin ($23.5 million), and Wax ($4.5 million) are sitting at the top three positions, respectively.

Solana’s brilliant performance

Mason Nystrom, the Messari research analyst, brought everyone’s attention to the data through Twitter on November 3. He explained that the NFT secondary sales might seem dwarf in front of Ethereum, but the upstart network is moving very quickly. He added that Solana has marked itself in the top NFT blockchains list in the last few months.

Since its launch in mid-August, Degenerate Ape Academy, Solana’s top NFT project, has generated secondary sales of around $106 million worth. The project represents animated gorilla avatars with different traits. It has seen $353,000 worth of secondary sales in the last 24 hours and is down by around 20%.

As per the data from TradingView, Solana’s SOL token has gained more than 40% in October and is currently sitting around $225. However, breaking all the records, it today touched the $235 mark. The coin’s market capitalization is around $68 billion, which puts it as the fifth most valuable asset in the crypto world. SOL has won over the fellow “Ethereum killer” Cardano (ADA) by around a $5 billion difference in market cap.

If you want to have a look at the detailed guide on Solana, you can visit here.