Nexo

Start Earning Up to 16% Interest Automatically

Learn More
Home » NFTs » Solana’s NFT trading volume sees a 25% weekly rise

Solana’s NFT trading volume sees a 25% weekly rise

by

The $62 million in weekly trades was driven by high-value collections like Tensorians, CryptoUndeads, and Froganas.

Solana’s NFT trading volume sees a 25% weekly rise

Share this article

Solana’s non-fungible tokens (NFTs) weekly trading volume surpassed $62 million, showing a 25% rise according to on-chain data aggregator CryptoSlam. After a slow January start, Solana (SOL) NFT activity seems to be picking up, with almost $190 million in trading volume this month.

In December 2023, Solana’s NFT sales volume went over $365 million and overtook Ethereum’s, only standing behind Bitcoin’s market share. Even with the relatively small volume when compared to last month’s, January’s total amount of sales is the highest Solana has had since May 2022.

Despite the rise in sales volume, the number of NFT-related transactions made on Solana’s blockchain fell by 15%. This indicates larger average transactions, which can be related to the NFT collection Tensorians. Their trading volume rose 107% over the past seven days, reaching $4.6 million, and each Tensorian has an 88 SOL floor price.

Solana’s NFT trading volume sees a 25% weekly rise
January sales volume of Solana’s NFT collections. Image: CryptoSlam

CryptoUndeads and Froganas were also among last week’s most popular Solana NFT collections, showing $15 million and $4.6 million, respectively.

Moreover, another interesting development in Solana’s NFT market seen in the past seven days is the fall in transactions labeled by CryptoSlam as wash trading. Although the amount is still relevant, a total of $3.6 million, this is almost 50% less than what was registered from January 11 to 17. In comparison, the amount of NFT sales on Ethereum labeled last week as wash trading is $90.5 million.

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.