The Solana network sets a new record again

Solana (SOL) is doing well. The network is breaking several records after a price increase at the end of 2023. For example, Solana-based non-fungible tokens (NFTs) have reached a total sales volume of more than $5 billion, according to data analytics platform CryptoSlam.

In total, there are more than 2.2 million buyers and 1.6 million sellers of NFTs on the platform, resulting in nearly 43 million NFT transactions within the blockchain network.

Record sales of NFTs in December

In December 2023, Solana NFTs recorded their second highest monthly sales volume at $365 million. This follows monthly revenue of approximately $82 million in November 2023, up 192% from $28 million the previous month. In December 2023, NFTs on Solana reached an impressive milestone by recording their second-highest monthly sales volume ever. The monthly total was $365 million.

Revival after October

Prior to November 2023, Solana had struggled to record monthly sales volumes of over $40 million since July 2023. However, the trend reversed after October 2023, indicating renewed interest and activity in Solana NFTs. The turnaround not only underlines the growing attractiveness of the platform, but also the changing dynamics within the NFT market, which is slowly gaining momentum again.

Despite a slight slowdown in January 2023 with sales of over $239 million, Solana NFT sales remain strong with sales of $161 million in February 2024. In the last nine months, sales volume of more than $1 billion was generated.

Filecoin collaboration

Solana’s strong performance is also leading to a new collaboration, as recently announced with Filecoin (FIL). Known for its peer-to-peer storage network, Filecoin will support Solana by improving data storage and security.

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This move comes after recent technical challenges for Solana, including network outages. The collaboration promises significant progress for both platforms with the aim of strengthening and expanding blockchain technology.

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