On February 23, the total volume of non-fungible tokens (NFT) sales on the Solana network exceeded $5 billion, as reported by CryptoSlam. The Solana blockchain boasts 2.2 million buyers and 1.6 million sellers of NFTs, with nearly 43 million transactions in the NFT space.

From July to October 2023, NFT sales on Solana did not surpass $40 million per month. However, in November of that year, there was a significant uptick in transactions, with sales reaching $82 million, a 192% increase from October 2023.

The trend continued in subsequent months, with January 2024 seeing NFT sales worth $239 million on the Solana network. As of February 23, 2024, sales amounted to $161 million.

Over the past nine months, Solana NFT sales have exceeded $1 billion, culminating in a total of $5 billion in NFTs sold on the network at the time of writing.

Additionally, in the previous month, Solana’s total transaction volume surpassed $951 billion, marking a 30% increase from the previous month’s total of $738.8 billion. The company also reported a consistent monthly range of active developers in the Solana ecosystem, ranging from 2,500 to over 3,000.

Solana continues to be a significant player in the NFT space, with impressive growth and transaction volumes reflecting its popularity among buyers and sellers.

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