Solana NFT Sales Volume Plummets Below $1 Million

Yesterday, the news of Solana’s network operations resuming after a five-hour outage made waves in the NFT community. The Solana team is currently investigating the root cause of the disruption.

As a result of this incident, the price of the native SOL token and the sales volume of Solana NFTs have been affected.In the past 24 hours, Solana has experienced a significant drop of almost 44%, bringing its sales volume down to $712,096. Consequently, it has slipped to the sixth position in terms of NFT sales volume.

To provide some context, Solana had been engaged in a fierce battle with Bitcoin for the second spot on the list for weeks. It had even managed to surpass Bitcoin on several occasions.

During that time, Solana’s daily NFT volume would typically reach around $7 million.

Currently, Bitcoin holds the second position, trailing behind Ethereum, with a sales volume of nearly $8 million. Polygon follows closely with $1.3 million.

When examining the weekly charts, Solana remains in third place despite experiencing a 31% drop. It has recorded a sales volume of $34.9 million, which is still significantly lower than Bitcoin’s $64.3 million.

Taking a broader perspective and looking at the past 30 days, Solana has seen a decline of 32.5% to $212.3 million, currently securing the third spot.However, in terms of the all-time ranking, Solana follows Ethereum, albeit with a notable difference in sales volumes.