Recently, Solana’s NFT sales surpassed $6,7 million, setting a record.

The Solana [SOL] NFT ecosystem has drawn a lot of attention recently since it has attained a number of milestones that bode well for the network. One of the things Solana did well was its NFT sales, which in November reached a record high of $6.7 million.

The Solana ecosystem saw a number of modifications that greatly increased the blockchain’s value. Among the leading blockchains as of November, Solana NFT has 13% of the market in terms of sales volume.

Additionally, Magic Eden maintained its position as the market leader with a 90% market share of Solana transactions. The FTX event, which rattled the whole cryptocurrency market, caused a significant increase in the price and trading volume of Solana NFT’s Blue Chip.

According to DappRadar data, the y00ts collection saw the greatest trading over the past 30 days, with sales increasing by almost 280%. In terms of volume, y00ts was also among the top 10 NFT collections in the month prior.

Despite the fact that all of these adjustments were beneficial, Dune Analytics data revealed that Solana’s NFT ecosystem had regressed. It’s not a good indicator, according to Dune, because the volume of daily transactions on the Solana NFT markets has been declining.

Even SOL might be impacted.
Despite this, SOL’s pricing remained largely unchanged and continued to decline. SOL was worth $13.59 at the time of writing and, according to CoinMarketCap, had a market size of around $4.95 billion.

Furthermore, Solana’s popularity has significantly decreased during the previous month, which is a terrible omen. However, Santiment’s graph suggested that Solana’s situation would soon turn around because several on-chain data supported a price increase.

The past 30 days saw a rise in Solana’s Binance financing rate, which piqued the interest of the futures market. The amount of initiatives it was working on to better itself also increased.