Secondary gross sales quantity for Solana (SOL) primarily based nonfungible tokens (NFTs) has reached virtually $500 million for the reason that begin of August.
In accordance with information from CryptoSlam, secondary gross sales of Solana NFTs have generated a complete of roughly $497.7 million from round 348,000 transactions as of Nov. 2, with the common sale per NFT tallying in at $1,500.
The info exhibits that Solana noticed a file month for secondary NFT gross sales quantity throughout September with a complete of $189.4 million. Whereas Solana is seen by some as an ‘ETH killer’ the Ethereum blockchain stays the most well-liked with NFT aficionados and secondary gross sales on Ethereum topped $2.2 billion that very same month.
Messari analysis analyst Mason Nystrom highlighted the information through Twitter on Nov. 3, and famous that whereas Ethereum (ETH) nonetheless “dwarfs Solana in complete NFT secondary gross sales,” the upstart community has rapidly established itself as one of many high NFT blockchains within the area of some months.
Whereas Solana shows promising metrics in distinctive addresses (patrons and sellers) and a decrease avg NFT sale value, Ethereum nonetheless dwarfs Solana in complete NFT secondary volumes.
Nonetheless, Solana has develop into one of many high NFT blockchains by secondary buying and selling in mere months. pic.twitter.com/9HfOp7IRut
— Mason Nystrom (@masonnystrom) November 2, 2021
CryptoSlam’s rankings of the highest NFT blockchains sees Solana at present sitting at fourth when it comes to 24-hour secondary quantity with $1.9 million. Main the pack are Ethereum ($37.7M), Ronin ($23.5M) and Wax ($4.5M).
Solana’s high NFT venture is the Degenerate Ape Academy, which has generated $105.9 million value of secondary gross sales since its launch in mid-August. The Degenerate Ape NFTs depict animated gorilla avatars with distinctive traits, and the venture has seen $454,000 value of secondary gross sales over the previous 24 hours.
In accordance with information from CoinGecko, the worth of SOL has gained 30.3% over the previous 30 days to sit down at round $225 on the time of writing. This recent pump has seen SOL tag a brand new all-time excessive of $229.76 earlier in the present day. The market cap of Solana is now round $68.1 billion, making it the fifth-ranked digital asset when it comes to complete capitalization, and forward of fellow ‘ETH killer’ Cardano (ADA) which has a market cap of $63.1 billion.
Cointelegraph Markets Professional has a value target of $250 per SOL by year-end, citing on-chain information from the DeFi sector and the derivatives market as key indicators for the prediction.