Solana Beats Them All in Daily NFT Sales – Becomes the Leading NFT Blockchain

The non-fungible token market is back in action after more than two months of pain, with non-fungible token collections created on Solana and Polygon leading the market’s revival. Solana today turned the tables to become the leading blockchain network in the NFT ecosystem.

Solana becomes the leading NFT Blockchain

Data retrieved by CryptoSlam.io, an on-chain crypto market data aggregator and multi-chain non-fungible token explorer, shows that non-fungible token collections created on Solana have made a huge comeback today. Over the past 24 hours, Solana-based NFT collections have amassed a trade sales volume of $5.07 million, representing an 83% increase from the past day.

Solana is an open-source blockchain that supports smart contracts, including non-fungible tokens and a variety of decentralized applications. Today, Solana-based digital assets have exploded in trading volume, making Solana the leading blockchain network in the NFT ecosystem. This is the first time Solana has taken over the NFT market.

Over the past 24 hours, Ethereum was the second most traded blockchain network, following closely behind Solana with a non-fungible token trading volume of $4.3 million. Polygon, an Ethereum scaling blockchain network, ranks third with a trading sales volume of $4.2 million. During this time, Ethereum and Polygon NFT trade sales have increased by 20% and 49% respectively.

The former non-fungible token market general, Bitcoin, is in fourth place, with only a trading sales volume of $1.5 million. In the past 24 hours, Bitcoin-based non-fungible token sales volume has declined 34% from the past day. Bitcoin lost its market hype earlier this year, shortly after the halving.

Factors driving Solana NFT growth

In our brief analysis, we identified some factors that caused Solana to register a sudden rise today. Among the factors that have fueled Solana’s growth include the sudden rise of its flagship non-fungible token collection, Mad Lads. In the last 24 hours, Mad Lads has seen its trade sales volume increase by more than 68% to $1.3 million.

Launched in April 2023, Mad Lads is a non-fungible token collection from the Solana infrastructure development project Backpack, with a limited edition of 10,000 NFTs hosted on the Solana blockchain network. Today, Mad Lads ranks as the best-selling NFT collection, surpassing other dominant NFT collections such as Bored Ape Yacht Club and Milady Makers.

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