Solana has surpassed Ethereum in NFT sales volume for the first time in December 2023. According to CryptoSlam data, Solana’s NFT sales reached $366.5 million.
Key Takeaways
- Solana achieves a milestone by surpassing Ethereum in NFT sales volume in December 2023.
- Solana’s NFT sales total approximately $366.5 million, exceeding Ethereum’s $353.2 million.
- Excluding wash trades, Solana’s sales remain strong, nearing its all-time high set in October 2021.
- Solana witnesses a surge in unique traders, with around 218,000 sellers and 279,000 buyers, almost double the numbers on Ethereum.
Solana Makes History
Solana, the blockchain platform, has made history by outpacing Ethereum in NFT sales volume for the first time in December 2023. According to data sourced from CryptoSlam, Solana’s NFT sales reached an impressive $366.5 million, eclipsing Ethereum’s total of $353.2 million.
Solana NFT Sales Overtake Ethereum for the First Time Ever in Decemberhttps://t.co/uMHxbXWsId pic.twitter.com/9NK13wpjny
— CryptoCommander (@KokSpencer) January 3, 2024
Solana Sales and Ethereum’s Comparative Stability
Notably, when excluding wash trades, Solana’s sales maintained strength at $366.5 million, approaching its all-time high of $373.5 million recorded in October 2021. In contrast, Ethereum’s sales exhibited relative stability, with December’s figure comparable to the previous month at $350 million.
Increased Unique Traders on Solana
Solana not only achieved supremacy in sales but also witnessed a substantial increase in unique traders. The platform boasted around 218,000 unique sellers and 279,000 buyers, nearly doubling the corresponding figures on Ethereum. This surge in user engagement underscores Solana’s growing prominence in the NFT space.
Driving Forces Behind Solana’s Success
The surge in Solana NFT sales is attributed to multiple factors, prominently among them being the significant appreciation of its native token, SOL. With SOL’s price quadrupling in the past three months, the Solana ecosystem experienced a resurgence. Concurrently, a memecoin frenzy, led by Bonk (BONK), further fueled the platform’s popularity.
To Conclude
Solana’s historic achievement in surpassing Ethereum in NFT sales volume for the first time in December 2023 reflects the platform’s robust performance.
Fueled by the surge in SOL’s value, a vibrant ecosystem, and the success of specific projects, Solana attracted a remarkable number of unique traders. This milestone underscores Solana’s growing influence in the NFT space and its ability to compete with established players like Ethereum.
