Bitcoin
BTC$68 340.85

-0.08%

Ethereum
ETH$3 900.06

-0.01%

Tether
USDT$0.998998

-0.03%

Binance Coin
BNB$601.61

-0.07%

Solana
SOL$169.55

1.09%

USD Coin
USDC$0.999988

0%

Solana secondary NFT sales reach half a billion dollars in three months


03 Nov 2021

#Solana

CryptoSlam ranks Solana as the fourth-best NFT blockchain behind Ethereum, Ronin and Wax in terms of 24-hour sales volume. Secondary sales volume for Solana-based nonfungible tokens (NFT) has reached almost $500 million since the start of August. According to data from CryptoSlam, secondary sales of Solana NFTs have generated a total of roughly $497.7 million from around 348,000 transactions as of Tuesday, with the average sale per NFT tallying in at $1,500. The data shows that Solana saw a record month for secondary NFT sales volume during September with a total of $189.4 million. While Solana is seen by some as an “Ethereum killer,” the Ethereum blockchain remains the most popular, with NFT aficionados and secondary sales on Ethereum topping $2.2 billion that same month.

Messari research analyst Mason Nystrom highlighted the data via Twitter on Wednesday and noted that while Ethereum still “dwarfs Solana in total NFT secondary sales,” the upstart network has quickly established itself as one of the top NFT blockchains in the space of a few months.

CryptoSlam’s rankings list of the top NFT blockchains sees Solana currently sitting at fourth in terms of 24-hour secondary volume with $1.9 million. Leading the pack are Ethereum ($37.7 million), Ronin ($23.5 million) and Wax ($4.5 million). Solana’s top NFT project is the Degenerate Ape Academy, which has generated $105.9 million worth of secondary sales since its launch in mid-August. The Degenerate Ape NFTs depict animated gorilla avatars with unique traits, and the project has seen $454,000 worth of secondary sales over the past 24 hours.

According to data from CoinGecko, the price of Solana’s SOL token has gained 30.3% over the past 30 days to sit at around $225 at the time of writing. This recent pump has seen SOL tag a new all-time high of $229.76 earlier on Wednesday. The market capitalization of SOL is now around $68.1 billion, making it the fifth-ranked digital asset in terms of total capitalization, sitting slightly ahead of fellow “Ethereum killer” Cardano (ADA), which has a market cap of $63.1 billion.

Cointelegraph Markets Pro has a price target of $250 per SOL by year-end, citing on-chain data from the decentralized finance sector and the derivatives market as key indicators for the prediction.


Related

The third wave of a crypto bear market
The third wave of a crypto bear market
Solana and Moonbirds help NFT market reach $6.3B monthly trading volume
Solana and Moonbirds help NFT market reach $6.3B monthly trading volume
Solana NFT marketplace integration and DApp metrics shine even after SOL’s 20% drop
Solana NFT marketplace integration and DApp metrics shine even after SOL’s 20% drop
Solana NFT sales pass $1.6B, wash trading on LooksRare and more
Solana NFT sales pass $1.6B, wash trading on LooksRare and more
Solana jumps past key selloff junction: SOL price eyes $150 in April
Solana jumps past key selloff junction: SOL price eyes $150 in April
Coinbase Wallet adds support for Solana
Coinbase Wallet adds support for Solana
Solana-based Zebec Protocol closes $15M Series A round
Solana-based Zebec Protocol closes $15M Series A round
Reasons why Solana (SOL) price could see additional upside in 2022
Reasons why Solana (SOL) price could see additional upside in 2022
Solana network outages show work still needed
Solana network outages show work still needed

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 74.8% 43 $68 340.85 -0.08% -3.94% $1 346 628 059 966 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 63.6% 70 $3 900.06 -0.01% 3.30% $468 544 486 799 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.2% 1 $0.998998 -0.03% -0.09% $111 853 096 661 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 94% 6 $601.61 -0.07% -2.65% $88 788 666 517 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 65.2% 73 $169.55 1.09% -6.18% $76 216 247 407 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 93.2% 1 $0.999988 0% -0.01% $32 462 319 787 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 89.6% 6 $0.529968 0.38% -2.20% $29 376 401 086 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 73.6% 50 $0.165877 -1.15% 0.99% $23 965 093 319 DOGE 7 days price change
9 Toncoin (TON) TON Toncoin predictions 69.6% 64 $6.44 0.25% -1.59% $22 372 212 694 TON 7 days price change
10 Cardano (ADA) ADA Cardano predictions 85.2% 19 $0.458847 -0.37% -8.55% $16 378 313 546 ADA 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 82% 33 $0.000026 2.32% 1.34% $15 324 676 755 SHIB 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 71.6% 52 $37.25 -0.32% -7.84% $14 635 878 478 AVAX 7 days price change
13 Chainlink (LINK) LINK Chainlink predictions 58.4% 82 $18.21 5.14% 7.55% $10 692 304 380 LINK 7 days price change
14 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 79.2% 42 $68 468.55 -0.07% -4.05% $10 643 201 463 WBTC 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 81.6% 33 $7.38 -1.21% -2.38% $10 617 581 024 DOT 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2024 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.