Solana NFT Trading Volume Exceeded a Whopping $2 Billion
Ethereum’s main counterpart, the Solana blockchain, is breaking all records in recent days. Thus, the protocol has surpassed $2.35 billion in all-time NFT sales the other day, outperforming all other NFT-related cryptos, except for Ethereum, of course.
The whopping figure was recorded on June 5th, even though the blockchain is recovering from the 2022 Q2 bearish trend. Just a few weeks ago, the $SOL market cap fell by over $14 billion.
But currently, there are definitely some reasons to celebrate, as May marked the first time when Solana exceeded the 24-hour Ethereum NFT trading volume. Of course, at the moment, the asset is still somewhat dragging behind Ethereum, while the latter incorporates such titans as BAYC, CryptoPunks, Meebits, and others.
But Solana has its mastodons as well. According to DappRadar, the $2.35 billion of market capitalization was achieved due to the Degenerate Ape Academy NFT collection with around $129 million of trade volume. The second-largest project on SOL is dubbed Solana Monkey Business, with $108 million. And the bronze goes to Aurory, which has recently generated $82 million, respectively.
However, even regarding the recent success of $SOL, Ethereum, with its costly gas fees, still tops the ranking, while its total NFT trading volume exceeds one of Solana’s by 5-6 times.