One of the Solana-built NFT tokens has made over $495m in sales over the past three months. The NFT was launched at a time when the network wasn’t this popular. CryptoSlam data revealed that Solana NFTs’ secondary sales had reached a new peak price of over $495m.
A breakdown of the sales amount shows that 347,000 transactions were responsible for this total amount. Thus, proving that $1,450 is the average price for a single piece of digital art. An on-chain analytics data also revealed that over $185m in sales were recorded throughout September 2021.
Ethereum Is Still The Acknowledged Leader Of The NFT-Verse
Despite the fast growth of Solana, especially in the last three months, ETH remains the acknowledged leader. For perspective, in September, when Solana recorded over $185m in NFT secondary sales, sales on the Ethereum platform were $2.2B for that particular month alone. A top analyst with on-chain analytics firm, Messari, disclosed Solana is fast establishing itself as the leader in the NFT world even though Ethereum’s NFT sales dwarfs that of Solana at present.
The CryptoSlam metric further revealed that Ethereum, Ronin, and Wax are the top three ranked platforms for secondary NFT sales over the last 24 hours, with Solana in fourth place. Solana’s degenerate ape academy remains its most popular NFT project to date. The NFT continues to bring in sales even though it was launched almost three months ago. Today alone, it has generated over $450k in the secondary market.
SOL Price Still Bullish
A CoinMarketCap data revealed that SOL set a new peak price of $250.08 in the early morning trading session today. SOL’s price gain in the last 30 days is over 30%, and as of this writing, it trades at about $235. Solana ranks among the top five cryptocurrencies of the world based on its market cap of approximately $71B.
It has now replaced Cardano in crypto rankings and ranks fourth even though both SOL and ADA are touted as Ethereum replacements. However, that might not happen soon as the Ethereum network is six times larger than Solana. As the DeFi and NFT markets continue to rise and bloom, analysts predict a further rise for SOL’s price as the year comes to an end.
SOL’s gains since this year began is estimated to be more than 14,500%, and it’s arguably the highest performing altcoin in the crypto-verse. More DeFi developers are opting for more Solana, and other Ethereum competitors as Ethereum is yet to find an effective solution to its rising gas fees.
Solana Partners With Other Projects To Fund Crypto Gaming With $100m
Solana ventures have announced a new partnership deal with FTX and Lightspeed Venture to invest in the Web3 crypto gaming industry. A top-level executive with Lightspeed, Amy Wu, opined that “the next billion users will be from Web3 gaming and Solana’s high-performance features give it an edge in becoming a leader in that space.” A NewZoo report published five months ago revealed that the Web3 crypto gaming space would be worth over $220B in the next two years.
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