Solana ranked second in NFT sales volume behind Ethereum in August.
Significant declines in NFT buyers and sellers were noted in August.
Solana’s [SOL] NFT market demonstrated notable resilience in August, emerging as the second-highest blockchain by NFT sales volume, only trailing behind Ethereum [ETH]. According to data from Coin98 Analytics, Ethereum recorded $131 million in NFT sales, while Solana followed closely with $79 million. Bitcoin [BTC] also made it to the top three, with monthly NFT sales reaching $59 million.
Despite Solana’s impressive ranking, a closer look at the metrics reveals a challenging month for the blockchain’s NFT ecosystem. The data showed a significant decline in activity, with the number of NFT buyers and sellers dropping by 36% and 33%, respectively. Additionally, Solana’s total transactions plummeted by over 50%, barely surpassing the 1 million mark.
However, September may bring a turnaround for Solana’s NFT market. Recent data in
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