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Solana is showing a strong surge in its NFT ecosystem in recent days. Not to forget, the overall demand for NFTs continues to falter in September despite showing glimpses of recovery.
Meanwhile, Solana NFT mints hit an all-time high recently on 7 September after it reached the 300,000 mark. The network recorded just 77.79k mints at the turn of the month and has shown a massive increase in such a span.
Source: IntoTheBlock
It has been quite a turnaround for Solana-based NFT collections in recent days. The ecosystem continues to be an attractive place for NFT trading after its recent milestone.
Solana News shared an update on the top NFT collections by sales volume in the past 24 hours. The list was led by “Yoots: Mint Toobs” with a sales volume of $426.1K since 11 September. This collection was closely followed by “Solana Name Service” after completing transactions worth $425.4k on 12 September.
Another major development can be seen on CryptoSlam as activity ramped up on the network. In the past week, the leading NFT blockchain, Ethereum, has seen a 10.7% drop in sales volume while totaling $72.6 million.
Solana, however, has shown a staggering 123.7% jump in sales volume which totals $39.36 million. While Solana is yet to be on par with Ethereum, it is beginning to see mass adoption in recent weeks. In this regard, Chase Barker, head of the developer ecosystem at the Solana Foundation stated,
“I remember once upon a time (last year), that ‘some people’ laughed at Solana NFTs,”
At the same time, Solana NFT marketplace volume reached its highest point since the end of May.
Well, on 6 September, the NFT volume on Solana had reached $373.76k according to data from IntoTheBlock.
Source: IntoTheBlock
That being said, according to CoinMarketCap, SOL was trading at $35.23 during press time after seeing a late 2% surge on 12 September.
The recent drive will only add to Solana’s prominence in the market as it attempts to climb the charts on all fronts.
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Kanav is a journalist at AMBCrypto. He has a Masters in Media and International Conflict and is interested in areas of digital society, crypto developments in the political sphere and the socio-cultural impact of a crypto-society.
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