On February 23rd, the total sales volume of non-fungible tokens (NFT) on the Solana network surpassed $5 billion. According to data from CryptoSlam, there are 2.2 million buyers and 1.6 million sellers of NFTs on the Solana blockchain, with nearly 43 million transactions in the NFT space.
From July to October 2023, NFT sales on Solana did not exceed $40 million per month. However, in November of the same year, there was a significant uptick in transactions, with sales reaching $82 million for that period, a 192% increase from October.
Subsequent months saw a continued rise in NFT sales on Solana. In January 2024, NFTs worth $239 million were sold on the network, with the figure standing at $161 million as of February 23, 2024.
Over the past nine months, total sales volume has surpassed $1 billion, with a cumulative $5 billion worth of NFTs sold on Solana at the time of writing. In the previous month, total transactions on Solana exceeded $951 billion, marking a 30% increase from the month before.
Additionally, Solana reported that the number of active developers in their ecosystem ranged from 2,500 to over 3,000 monthly over the past year.