Solana Hits New Milestone Recording Over $2 Billion NFT Volume Sales on it’s Blockchain

Steel Luiz June 6, 2022

6 1 minute read

Solana has recently surpassed total NFT sales volume on its blockchain platform. The total sales has exceeded $2 billion as of the time of writing.

According to cryptocurrency researchers, Solana has recorded a total volume of around $2.35 billion as of yesterday. This is treated as an improvement to the Solana blockchain after its native token, SOL, lost a large amount of value of about $14 billion in market capitalization in the month of May.

The Solana Blockchain is now know to have made more NFT volume sales than Flow with over 1 billion volume sales, Polygon with over $570 millon sales, WAX with over $433 million sales, Avalanche with $278 million sales and other blockchains below these amounts.

At the beginning of year, Solana reached its highest NFT monthly volume sale of $298.69 million. Although the Solana blockchain was noticed during the first and last days of May due to a bug and the surge of transactions, it has also been gaining massively in terms of NFTs.

More on Solana

Solana, which is thought to be a potential long-term rival to the ethereum blockchain, continues to fight for its place among the best smart contract platforms. It is currently third in the list of the highest numbers of NFT volume sales recorded in the Blockchain, behind Ronin and Ethereum.

Solana is a public blockchain just like the Ethereum blockchain, it was founded by Anatoly Yakovenko in 2017. It was the first blockchain to implement Proof of History (PoH). Proof of History is known to be capable of solving issues of scalability and timekeeping during transactions.

Solana Blockchain is known for its speed and also provides secure, scalable and decentralized apps and marketplaces.

Over the years Solana has gained a lot of publicity and has become one of the most acceptable chains in terms of decentralized finance (DeFi) and NFT. NFTs can be found on many different blockchains, and the low cost and scalability of Solana continues to shift the digital collectible market in its favor.