2022 Solana NFT Txns Now At Par With Ethereum

Lavina Daryanani

April 2022 was a great month for Non-Fungible Token sales, but things went down soon after. November, however, turned out to be quite eventful for these tokens as their sales surged by 13.2% when compared to October. Resultantly, the said metric witnessed a spike for the very first time in seven months.

With the crypto market attempting to recover in December, even the NFT market seems to be following suit. Data from CryptoSlam revealed that cumulative NFT sales rose by 9.16% over the past 24 hours to $18,083,090.23.

The major chunk of transactions, as such, took place on the Ethereum blockchain. Over the last day, sales on the network accounted for $14.124 million. That was, nevertheless, 1.15% less than the previous day. The number of transactions noted a 5.8% rise, while the number of buyers rose by 7.41%.

Solana was the second most preferred blockchain for NFT transactions. Even this network obliged to the re-bound trend and noted a 16% incline in sales. That was accompanied by a 77.73% rise in transactions and a 5.79% rise in the number of buyers.

Also Read: NFT sales surge after 7 months despite FTX fiasco

Also Read: A Guide to NFTs and Metaverse in 2022

Solana, Ethereum NFT Txns Equalize

With things getting back on track gradually, it is interesting to note that Solana recently scripted a new record. As illustrated below, Solana has executed just as many NFT transactions as Ethereum in 2022. Optimism and Flow’s numbers, on the other hand, stood much lower.

Source: Twitter

Also, Read – Ethereum: Total Value in ETH 2.0 Claims New ATH of 15.6M Tokens

When zoomed out, nonetheless, Flow blockchain was the all-time leader, with a total of 26.521 million transactions fostered by it on its platform. Ethereum stood right behind at 26.455 million, while Solana followed them at the third position, post executing a total of 19.2 million transactions.