Solana NFTs doubled this September, Rivals Ethereum NFTs’ Growth!

Solana NFTs doubled this September, Rivals Ethereum NFTs’ Growth!

At the beginning of October, the Solana blockchain caused complaints and disappointment within its community after it experienced yet another outage this year, causing users unable to make any Solana transactions including selling or buying Solana NFTs for around 6 hours. 

Despite this however, Solana NFTs have been seeing quite impressive growth these past few months.

Solana NFTs

According to data from DappRadar also showed that in September, Solana NFTs saw up to $133 million in NFT sales, nearly double that of the $68.5 million of NFT sales from back in August.

Sol NFT Volume
(source: DuneAnalytics)

Aside from that, DappRadar also found that the amount of NFTs being bought in specific marketplaces have also been changing this last month. 

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OpenSea, which mostly focuses on Ethereum NFTs so far, had for a long time been dominating the NFT space, holding the title as the largest NFT marketplace by trading volume.

However, DappRadar’s new data suggests that OpenSea may just be slowly slipping as other more Solana-friendly NFT marketplaces like X2Y2 and Magic Eden, have been catching up to OpenSea’s trading volume. 

Magic Eden, known as the current biggest Solana NFT marketplace, recorded a whopping $127 million worth of trading volume this September, not too far away compared to OpenSea’s $350 million.

Solana’s Recent Success

The rise in Solana NFTs this past September could be attributed to some of the huge NFT collections that came into play and made a huge impact. 

Two Solana collections that really made a big buzz these past few months for example, were the DeGods and y00ts collection. 

For a long time, the DeGods collection had been known to be one of the biggest Solana-based NFT projects in the space, but it had been growing more than ever these past few months after its creators announced the plans and launch of their newest project, the y00ts collection.

The y00ts collection garnered a lot of hype and excitement from the community, even managing to rake in more than 200,000 SOL in trading volume within just 24 hours of its original mint. 

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Both of these collections, along with other Solana collections like ABC have been helping to push Solana-based NFTs into the spotlight these past few months, ultimately helping it to rise in trading volume by a lot in September. 

With Solana NFTs rising despite the current ‘NFT depression’ as some may call it, members of the community are hopeful that this rise may continue into the future, possibly flipping the tables for Solana NFTs to overthrow the popularity of Ethereum NFTs.

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