Try Quests to earn SOL
@UzorueCIn October 2024, the Solana blockchain witnessed significant activity in NFT transactions, underscoring its position as a leading platform for digital collectibles and decentralized applications. This analysis breaks down the key metrics and trends observed in NFT transactions on Solana during this period, providing insights into user behavior, marketplace dynamics, and overall ecosystem growth.
Non-Fungible Tokens (NFTs) are like digital collectibles. Think of them as unique items you can own online, such as digital art, music, videos, or even virtual real estate. Each NFT is one-of-a-kind, meaning no two NFTs are exactly the same.
A total of 528.6k NFT transactions were carried out on the Solana Blockchain in October 2024, with a total sales volume of $341.3k in that period.
Each day in October saw approximately 1.2m transactions with almost 2k users
October week 4 is the week with the highest number of NFT sales volume with "Magic Eden v2" leading the charge
TensorSwap saw the most number of sales in a market place on Solana for the month in view, with 24.8k representing almost 50% of all market place sales.
The NFT with the largest number of sales on Solana chain in October 2024 is "Intro to the Jupiverse" with 3.4k sales, with "Leila the Cat" coming close at 2.7k
Total number of NFT transactions started at 6.9M in the first week of October and slowly dipped until week 3, it rose again to 5.9M but declined sharply in the final week to 3.2M, marking a 54% decrease from the start of the month
The number of NFT users on Solana grew from 11k users in week 1 and peaked at week 3 on 43k unique users. This number came down slowly to 23k in the last week, representing a 50% decline