NFT sales up 18% as all-time volume nears $6B on Solana
Virtual tokens (NFTs) broke their seven-month downtrend in October as digital stocks saw an 18 percent increase in volume.
Since March's $1.6 billion monthly volume, a peak in 2024, NFT volumes have been on a downward trend.
It continued into September when NFTs hit their lowest monthly volume since 2021.
NFTs recorded a monthly volume of $356 million in October
According to CryptoSlam data, NFTs only had a volume of around $300 million in September 2024, down 20% from the August record. However, despite a steady decline in 2024, monthly sales of NFTs showed a brief recovery in October.
NFT monthly sales volume for 2024. Source: CryptoSlam
By October 2024, NFTs had a volume of $356 million, an 18 percent month-over-month increase. The uptick in NFT sales breaks a seven-month slump in monthly sales for digital collectibles.
In addition, NFTs had an increase in the total number of transactions. In October, NFT transactions totaled 7.2 million, a 42 percent increase from September's five million transactions.
In addition to the monthly volume increase, NFT weekly volumes reached a peak in October. Between September 30 and October 6, NFTs posted their strongest weekly sales since August, topping more than $84 million, according to CryptoSlam.
NFT collections with the highest sales volume in the last 30 days. Source: CryptoSlam
Mythos Chain-based NFT aggregator DMarket led the last 30 days in sales volume, accumulating $33 million in sales. Following the collection is a $13 million dollar non-volatile-centric Guardians of the Galaxy collection.
Bitcoin and Ethereum-based collectives such as Bitcoin Puppets, Bored Ape Yacht Club and CryptoPunks showed strong volumes in October.
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Solana's all-time NFT volume is close to $6 billion
In addition to Bitcoin and Ethereum NFTs, Solana-based collections also made the list of top 10 collections by October sales volume. Solana NFTs like DogeZuki, Froganas and Retardio Cousins had a record $25 million in sales last month.
Blockchains All Time NFT Sales Volume. Source: CryptoSlam
In total, Solana-based NFTs recorded a 30-day volume of $67 million in October, accounting for 19% of the total NFT monthly volume. This brings the all-time sales volume of Solana-based NFTs to $6 billion, as it remains the second largest blockchain in overall NFT sales.
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