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Solana secondary NFT sales hit nearly $500 million in three months



Source: Pixabay

The crypto industry has introduced many promising projects to the users, and one of the projects that witnessed tremendous growth over the past year is Solana.

The blockchain has been used to offer different products including non-fungible tokens [NFT]. Its popularity was visible in its secondary sales volume for NFTs, hitting nearly $500 million since the beginning of August.

Research analyst for Messari, Mason Nystrom shared the data about the same on Twitter. He noted,

“As the Solana ecosystem continues to expand, NFTs on Solana have seen formidable growth.

Total NFT secondary sales volume on solana has officially reached $500 million, doing so in just three months.”


Source: Twitter

As per data offered by the analyst, Degenerate Ape Academy lead Solana NFT projects in cumulative secondary trade volume with $105 million, followed by Aurory with $70 million and Galactic Gecko Space Garage with $41 million.


Source: Twitter

However, despite promising metrics, Ethereum still “dwarfs Solana in total NFT secondary volumes,” as per Nystrom. Nevertheless, Solana became one of the top NFT blockchains by secondary trading in just a few months.

According to recent reports, electronic music producer Deadmau5 may launch NFTs on the Solana blockchain. Further, the NFT collection will be made by abstract artist Gregory Siff at the Red Rocks Music Festival in Colorado on 4 November. It was clear that Solana was already experimenting with artists to keep its NFT space active and creative for buyers and sellers.

Meanwhile, data collector, CryptoSlam listed Solana as the number four blockchain for NFTs as its 24-hours secondary volume hit $1.9 million, behind Ethereum [$37.3 million], Robin [$23.5 million], and Wax [$4.5 million].

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Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

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