Solana Becomes Fourth-Biggest NFT Blockchain As SOL Overtakes Cardano

Solana (SOL) is now the fourth-most popular blockchain in terms of non-fungible token (NFT) sales volume.

According to data aggregator CryptoSlam, Solana’s NFT sales are the fourth-largest by volume. Leading the pack is Ethereum, followed by Ronin (a sidechain developed for the Axie Infinity play-to-earn game) and Worldwide Asset eXchange (WAX).

At time of writing, Solana’s total NFT sales since August stand at over $498 million. NFT sales on Solana hit an all-time high on August 31st when they reached a daily volume of around $37.7 million. The number of buyers hit a daily record of 6,521 on October 8th.

The biggest collection of NFTs on the Solana blockchain is the Degen Ape Academy series of ape digital collectibles. So far, the Degenerate Ape Academy has sold ape NFTs worth about 986,300 SOL, or nearly $227 million. At time of writing, SOL is trading at about $230, according to CoinGecko.

Solana’s rise to the fourth position by NFT sales volume on its blockchain coincides with SOL overtaking the Cardano (ADA) cryptocurrency by market cap.

Solana’s market cap is $69.4 billion while Cardano’s sits at $66.9 billion, according to CoinGecko. Solana is now the fifth-largest cryptocurrency by market cap with Cardano one place behind. Cardano is trading at $2.08 at time of writing, down by over 30% from its September all-time high.

Over the last 12 months, Solana has surged by about 15,500% while Cardano has gone up by 2,145%.

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Source: https://dailyhodl.com/2021/11/04/solana-becomes-fourth-biggest-nft-blockchain-as-sol-overtakes-cardano/