{"id":143549,"date":"2021-11-03T07:27:41","date_gmt":"2021-11-03T07:27:41","guid":{"rendered":"https:\/\/precoinnews.com\/?p=143549"},"modified":"2021-11-03T07:27:41","modified_gmt":"2021-11-03T07:27:41","slug":"solana-secondary-nft-sales-reach-half-a-billion-in-three-months","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/solana-secondary-nft-sales-reach-half-a-billion-in-three-months\/","title":{"rendered":"Solana secondary NFT sales reach half a billion in three months"},"content":{"rendered":"<p>Secondary sales volume for Solana (SOL) based nonfungible tokens (NFTs) has reached almost $500 million since the start of August. <\/p>\n<p>According to data from CryptoSlam, secondary sales of Solana NFTs have generated a total of roughly $497.7 million from around 348,000 transactions as of Nov. 2, with the average sale per NFT tallying in at $1,500. <\/p>\n<p>The data shows that Solana saw a record month for secondary NFT sales volume during September with a total of $189.4 million. While Solana is seen by some as an \u2018ETH killer\u2019 the Ethereum blockchain remains the most popular with NFT aficionados and secondary sales on Ethereum topped $2.2 billion that same month. <\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/88bd40f6-2c13-43ff-a834-a1691476f931.png\"><\/p>\n<p>Messari research analyst Mason Nystrom highlighted the data via Twitter on Nov. 3, and noted that while Ethereum (ETH) still \u201cdwarfs Solana in total NFT secondary sales,\u201d the upstart network has quickly established itself as one of the top NFT blockchains in the space of a few months. <\/p>\n<p>CryptoSlam\u2019s rankings of the top NFT blockchains sees Solana currently sitting at fourth in terms of 24-hour secondary volume with $1.9 million. Leading the pack are Ethereum ($37.7M), Ronin ($23.5M) and Wax ($4.5M). <\/p>\n<p>Solana\u2019s top NFT project is the Degenerate Ape Academy, which has generated $105.9 million worth of secondary sales since its launch in mid-August. The Degenerate Ape NFTs depict animated gorilla avatars with unique traits, and the project has seen $454,000 worth of secondary sales over the past 24 hours. <\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/9bcb026e-3e31-44ed-98e1-6bb30ba9d6f5.png\"><\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Beyond the NFT hype: Creating lasting business models for artists<\/em><\/strong><\/p>\n<p>According to data from CoinGecko, the price of SOL has gained 30.3% over the past 30 days to sit at around $225 at the time of writing. This recent pump has seen SOL tag a new all-time high of $229.76 earlier today. The market cap of Solana is now around $68.1 billion, making it the fifth-ranked digital asset in terms of total capitalization, and ahead of fellow \u2018ETH killer\u2019 Cardano (ADA) which has a market cap of $63.1 billion. <\/p>\n<p>Cointelegraph Markets Pro has a price target of $250 per SOL by year-end, citing on-chain data from the DeFi sector and the derivatives market as key indicators for the prediction.<\/p>\n<p>Source: <a href=\"https:\/\/cointelegraph.com\/news\/solana-secondary-nft-sales-reach-half-a-billion-in-three-months\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Secondary sales volume for Solana (SOL) based<\/p>\n","protected":false},"author":3,"featured_media":143548,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Solana secondary NFT sales reach half a billion in three months - 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