SOL NFT Transaction Volume Has Reached A New All-Time High

Solana (SOL) has been having a rough few weeks following the FTX meltdown, and has slowly been fading from the top ten list of the biggest cryptocurrencies. However, Solana’s NFT ecosystem has been showing some promising growth.

Over the last week, a variety of new NFTs were listed on Solana, including Panda, Pixel Boy, ACF, Moo Doo, and Claynosaurz. In addition to this, Solana’s NFT transaction volume has also made some notable progress. Just a few hours ago, Solana announced on its Twitter page that its NFT transaction volume has reached a new all-time high.

Solana NFT Trading Volume by Month Source: Solana Daily

Unfortunately, Santiment’s data on Solana was not as positive. According to the market intelligence platform, SOL’s total NFT trade count volume in USD saw a decline over the last week.

Total NFT Trades Volume in USD Source: Santiment

These new developments had a positive effect on SOL in the short terms. The crypto market tracking website, CoinMarkeCap, indicates that SOL saw a 1.52% increase in price over the last 24 hours to now trade at $13.88.

SOL / TetherUS 1D Source: CoinMarketCap

In the longer term, things are still not looking too well for SOL as the altcoin is currently in the red by more than 4% over the last week.

SOL’s 24 hour trading volume is also in the green today and now stands at $293,517,825 after a more than 4% increase over the last day. The crypto also strengthened against the two biggest cryptocurrencies in the market, Bitcoin (BTC) and Ethereum (ETH) by about 0.08% and 0.30% respectively.

SOL is currently the 15th biggest crypto in the market, with its market cap of $5,047,107,413.

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