Degenerate Ape Academy and Solana Monkey Business both surpassed the milestone
Solana NFT collections are gaining momentum as the two most popular ones have successfully generated upwards of $100 million in trading volume each. Degenerate Ape Academy boasts a lifetime volume of close to $109 million. Solana Monkey Business is following close behind with $106 million.
The cumulative value of trading volume achieved by the top three Solana NFT collections to date is nearing the $300 million mark. Aurory, which is currently chasing after its competitor’s achievements, ranks third in the DappRadar Solana NFT Collection charts with more than $75 million in trading volume so far.
Impressively, Aurory has managed to attract the most traders to its smart contracts, despite having the lowest trading volume of the three. With more than 12.000 sales since launch, Aurory is steadily on its track to reaching the $100 million mark soon.
Solana NFT collections steam ahead
The Solana blockchain has solidified its position as a competitor to leader Ethereum, not only in the DeFi space but also in the NFT sector. Marketplaces like Solanart and Magic Eden have each already generated upwards of $200 million in secondary sales trading volume.
Of course, Ethereum remains the leading platform for NFTs in terms of trading volumes. However, Solana is quickly becoming a go-to for enthusiasts looking to diversify their portfolio. Solanart has already secured its place at the top five of NFT marketplaces with the highest all-time trading volume across all protocols. While still relatively young, the marketplace surpasses big names on the Ethereum scene like Rarible, SuperRare, and Foundation.
Solana NFT collections are also generating some pretty impressive sales values. Interestingly, Aurory takes the stage once again with the most expensive Solana NFT sale to date. This happened in the last 24 hours when an Aurory NFT switched owners for 289 SOL, or about $65.340.
Solana NFT collections have a long way to go to reach Ethereum’s level. However, the blockchain has several things going for it in this regard. Unlike Ethereum, Solana offers impressively fast transaction processing speeds, for a fraction of the cost in terms of fees. Additionally, SOL still has a pretty accessible price when compared to ETH. These factors, combined with the growing popularity of the blockchain as a whole, are pushing NFT enthusiasts to Solana.
DappRadar will continue monitoring the whole NFT space, including Solana’s progress as an alternative to Ethereum. Stay tuned and follow us on Twitter, or join our Discord community to learn the latest news first.