Nfts
Solana NFTs jump 30% in 24 hours: what is behind this surge?
- Solana has seen an increase in NFT sales volume over the past 24 hours.
- The general NFT market has seen a decline in sales activity over the past month.
The sales volume of Solana [SOL]token-based non-fungible tokens (NFTs) increased by over 30% in the last 24 hours, CryptoSlam the data showed.
According to the on-chain data provider, the value of all Solana-created NFTs sold during this period was $3.17 million.
During the period under review, 78,165 NFT sales transactions were carried out on the Solana network.
On a monthly basis, NFT sales volume on Solana totaled $65.11 million, down 57% from the $152 million recorded in April.
Data from CryptoSlam showed that monthly NFT sales volume on the network declined after peaking at $250 million year-to-date in March.
In comparison, the last 24 hours were marked by a drop in the volume of NFT sales on the Ethereum [ETH] network. With $7 million in sales recorded over this period, the chain recorded a 20% decline.
THE Bitcoin [BTC] The network performed considerably better, with a 10% increase in NFT sales volume during the same period.
The NFT market last month
The NFT market has seen a steady decline in trading activity over the past month.
According to NFTGo According to the data, over the past 30 days, the total sales volume of NFTs across all collections was $448 million, recording a decline of 15%.
However, due to the recent rise in the value of several cryptocurrency assets, the NFT market capitalization has seen a slight rally. At $8 billion at the time of writing, that amount increased by 1% last month.
Source: NFTGo
How the top NFT collections performed
According to data from NFT floor pricethe floor price of the main NFT project, Bored Ape Yacht Club (BAYC), was 13 ETH (valued at $49,000) at press time.
In the last 24 hours, the value of the collection has increased increased by 2%.
Read by Solana [SOL] Price prediction 2024-25
Due to this increase in value, its business activity fell. Only 16 BAYC NFTs were sold during this period, a 56% reduction in the number of sales in the last 24 hours.
Regarding CryptoPunks, the largest collection of NFTs by market capitalization, its floor price was 40 ETH ($131,000) at the time of writing. In the last 24 hours, only 3 NFTs from the collection have been sold.