NFTs
Solana NFTs jump 30% in 24 hours: what’s behind the increase?
- Solana has seen an increase in NFT sales volume over the past 24 hours.
- The overall NFT market has witnessed a decline in sales activity over the past month.
The sales volume of Solana [SOL]token-based non-fungible tokens (NFTs) have increased by more than 30% in the last 24 hours, CryptoSlam data showed.
According to the on-chain data provider, the value of all Solana-minted NFTs sold during this period totaled $3.17 million.
During the period under review, 78,165 NFT sales transactions were completed on the Solana network.
Month-to-date, NFT sales volume on Solana totaled US$65.11 million, marking a 57% drop from the US$152 million recorded in April.
Data from CryptoSlam showed that monthly NFT sales volume on the network declined after reaching a year-to-date peak of $250 million in March.
In comparison, the last 24 hours have been marked by a decline in NFT sales volume on the Ethereum [ETH] network. With US$7 million recorded in sales during this period, the chain recorded a 20% drop.
O Bitcoin [BTC] the network performed considerably better, with a 10% increase in NFT sales volume during the same period.
The NFT market in the last month
The NFT market has witnessed a steady decline in trading activity over the past month.
According to NFTGo’s data, in the last 30 days, the total NFT sales volume across all collections was $448 million, recording a 15% drop.
However, due to the recent increase in the values of several cryptocurrency assets, the NFT market capitalization has seen a small recovery. At $8 billion as of this writing, that value has increased by 1% in the last month.
Source: NFTGo
How Top NFT Collections Fared
According to data from NFT minimum pricethe minimum price of the leading NFT project, Bored Ape Yacht Club (BAYC), was 13 ETH (valued at $49,000) at press time.
In the last 24 hours, the value of the collection has been increased by 2%.
To read Solana [SOL] Price prediction 2024-25
Due to this increase in value, your sales activity dropped. Only 16 BAYC NFTs were sold during this period, a 56% reduction in the sales count over the last 24 hours.
Regarding CryptoPunks, the largest NFT collection by market capitalization, its minimum price was 40 ETH ($131,000) at the time of writing. In the last 24 hours, only 3 NFTs from the collection were sold.