Even though they are having a bad performance in the market, Solana NFTs in the past week look like they might be getting closer to Ethereum in sales. However, Bitcoin NFTs aren’t making this easier, as it is closely behind.
Solana NFTs Reach $16 Million NFT Sales in a Week
In the past week, Solana NFTs have reached a new milestone, recording $17 million in sales. This impressive figure comes from 221,482 transactions, involving 98,291 buyers and 30,884 sellers. Furthermore, the wash volume increased by over 100% to $4.5 million.
Nevertheless, Solana NFTs did much better in the past 30 days, increasing to $89 million sales. Within this period, there was a 46% increase in the number of buyers to 245,000 and 23% increase for sellers to 65,000.
Ethereum and Bitcoin Weekly NFT Overview
Ethereum remains the undisputed leader in the NFT space, but its position is increasingly being challenged. Over the past week, Ethereum recorded $28 million in NFT sales. The Ethereum blockchain saw 173,753 transactions, with 34,591 buyers and 25,413 sellers.
Bitcoin, on the other hand, is a relatively new entrant into the NFT market, but it is making waves. Last week, Bitcoin NFTs recorded $11 million in sales across 21,542 transactions. The number of unique buyers and sellers is still growing, with 14,764 buyers and 10,592 sellers.
Top Solana NFTs for the Past Week
Here’s a look at the top Solana NFT collections for the past week:
DogeZuki Collection
The DogeZuki collection continues to perform well, recording 59,843 transactions in the past week. Furthermore, this collection attracted 50,001 buyers and 9,215 sellers, with the total number of unique owners reaching 19,400. All this performance brings the total worth of NFT sales to over $2.5 million.
Degods Solana NFTs
Degods has been another standout collection on Solana. This collection saw 504 transactions last week, involving 254 buyers and 278 sellers. Nevertheless, this NFT collection recorded a massive decline in all metrics except the total worth of sales at $2.1 million.
SMB
SMB remains a significant player in the Solana NFT market, with 378 transactions recorded last week. Furthermore, the collection saw participation from 166 buyers and 170 sellers. However, there’s a massive decline in total sales made, reducing by more than 21% to $1.18 million.
Mad Lads Solana NFTs
Mad Lads is one of the newer collections on Solana but has already made a significant impact. Last week, Mad Lads recorded 111 transactions, attracting 72 buyers and 86 sellers. So, there’s an overall decline in all metrics, reducing total NFT sales to around $900,000.
Conclusion
The competition in the NFT market is heating up, with Solana, Ethereum, and Bitcoin trying to dominate the other. Solana’s recent $16 million in weekly sales shows that it is closing the gap on Ethereum, though it still has some way to go before overtaking the market leader. Meanwhile, Bitcoin’s continued push into the NFT space could challenge both Ethereum and Solana in the near future.
Cover Image from Microsoft Designer
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