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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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Home NFT

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

January 25, 2024
in NFT
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Solana’s NFT trading volume sees a 25% weekly rise
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The $62 million in weekly trades was driven by NFT collections like Tensorians, CryptoUndeads, and Froganas.

READ ALSO

NFT sales drop 25% to $134m, CryptoPunks plunge 59%

Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

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.

See also  OKX Wallet’s Latest Update Unlocks a New Realm of Bitcoin NFTs—Here’s How

Tags: NFTriseSeesSolanasTradingVolumeWeekly

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Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

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Tezos 2023 Outlook: An Overview of Tezos (XTZ)

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UK risks regulating NFTs the wrong way, says Mintable CEO

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Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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How to Earn Keys to Boost Your HMSTR Airdrop

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Klaytn Pursues Merger With Finschia to Create ‘Asia’s Leading’ Web3 Blockchain

Klaytn Pursues Merger With Finschia to Create ‘Asia’s Leading’ Web3 Blockchain

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Examining BAYC’s latest rally from its 32-month low

Examining BAYC’s latest rally from its 32-month low

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Unstoppable Domains Recognized as one of America’s Best Startup Employers for 2023 by Forbes

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Bitcoin Hashrate Hits Historic 500 EH/s Peak

Bitcoin Hashrate Hits Historic 500 EH/s Peak

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