In the last 24 hours, Solana’s daily NFT sales volume increased, surpassing that of Ethereum for the first time since May 2022.
During a 24-hour period since June 30, the Solana (SOL) network produced more NFT sales in volume than Ethereum (ETH). This is in contrast to the high-value Ethereum NFT market, whose trading volume has recently declined.
According to information provided by CryptoSlamSolana NFTs sales in the secondary market generated about $24.2 million from the previous day, while Ethereum sales totaled $21.2 million.
Despite the slight disparity between the platforms, this is the first time that the smaller Solana marketplace has surpassed Ethereum in terms of the amount of dollars earned from 24-hour sales in over a year. According to CryptoSlam, Solana NFT sales increased by 166.11% during the 24-hour period of that previous window.
Last year Solana overcome Ethereum in 24-hour sales volumes for the first time, reportedly powered by Trippin’ Ape Tribe. Trippin’ Ape Tribe was a new Solana NFT profile picture project that launched in Magic Eden in April 2022.
Trippin’ Ape Tribe accounted for more than $14.5 million of Solana’s total NFT sales during said period. As a result, it outperformed all other Ethereum and Solana initiatives during that time by a significant amount. Ethereum’s Bored Ape Yacht Club, which generated $3.5 million in sales, came in second.
OpenSea supports Solana NFTs
Soon these achievements could become more typical. In a recent round of fundraising, OpenSea, a major NFT marketplace valued at $13.3 billion, announced that it is now support Solana NFT. Before Polygon (MATIC) NFTs, OpenSea was just a marketplace for Ethereum NFTs. Shortly after, by OpenSea its rival Rarible quickly imitated OpenSea’s actions and enabled Solana’s NFTs on its platform.
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Although Solana is showing several signs of growth, the Ethereum market is still considerably more valuable overall. According to CryptoSlam, the Solana NFT trading volume over the past seven days has been close to $41 million, while the Ethereum trading volume has been close to $166 million. The difference between Solana and Ethereum after 30 days widens considerably to about $380 million.
