Solana NFT Volume Surges
Recent data reveals a significant surge in Solana NFT sales volume over the past 24 hours. Compared to Ethereum’s 3.4% increase, Solana experienced a remarkable nearly 20% surge in sales volume during this period, according to Step Data Insights.
Delving deeper into the volume data on Crypto Slam, the surge becomes even more pronounced, with sales volume skyrocketing by over 124% within the last 24 hours. Furthermore, while Solana’s USD-denominated trade volume lagged behind Ethereum’s, it surpassed Ethereum in the number of sales during the same timeframe. The cumulative sales volume reached around $2.2 million.
Analyzing the Solana 7-day NFT Volume
Solana Floor data reveals that the surge in NFT activity extends beyond daily trading volumes. The seven-day trading volume witnessed a positive upswing, escalating by 12% and amassing nearly $5 million in USD volume.
The Solana Blue Chip NFT Index also indicated a noteworthy 10% surge within the past 24 hours. It’s worth noting that this increase remained below the earlier month’s peak threshold.
Furthermore, statistics from Solana Floor highlight Mad Labs as the top NFT collection on the network. As of now, its cumulative floor value exceeds $11 million, with the second-highest floor value surpassing $8 million.
Impact on Total SOL NFT Trade Volume
Despite the impressive surge in overall volume, the SOL NFT trade volume, as indicated by Santiment data, has not seen a proportional increase. The cumulative trade volume denominated in USD only slightly surpassed $2,600 at the time of writing.
This figure stands in stark contrast to the previous average volume of around $5 million observed before a significant decline in July.
However, the ongoing spike in trading volume, if sustained, could lead to improvements. In such a case, there’s a possibility that the USD trade volume might return to levels prominent several months ago, suggesting a potential resurgence in trading activity.
