The total transaction volume of non-fungible NFT tokens based on the Solana blockchain has exceeded $1.5 billion, according to data provided by the data platform.”cryptoslam“.

Solana was able to hit this new milestone just months after it crossed the $1 billion mark for the first time.

The NFT issued and operated on the Solana blockchain has generated more than two million transactions with 314,910 buyers and 260,844 sellers.

Last September, an NFT named “Degenerate Ape” managed to bring in $1 million, a first for Solana, joining the club of notable existing NFT projects that are mostly based on the Ethereum blockchain such as CryptoPunks.

Solana gained fame in 2021, emerging as an inexpensive alternative to Ethereum, which is still struggling with high transaction fees and relatively slow transactions.

Read:FuzeX Cards – a new revolution in the world of payments and cryptocurrency

CryptoSlam data shows that over the past week, sales of NFT Solana saw an increase of 55.34%.

Earlier this year, banking giant JPMorgan predicted that Solana could outperform Ethereum in the NFT sector despite the fact that Solana is less decentralized.

Ethereum is still far ahead of its nearest competitor, with Ethereum achieving massive sales of $21 billion.

Currently, Solana’s non-fungible token markets are powered by it.

OpenSea is expected to integrate “NFT Solana Projects” as early as this April, which could give a significant boost to network adoption.

Rumors about it started circulating since last year.

Simultaneously, the digital currency SOL has once again surpassed the market capitalization of XRP of Ripple, becoming the sixth largest cryptocurrency by total market capitalization.

Read:Mike Novogratz gets approval to list the Bitcoin ETF on the Toronto Stock Exchange, Canada

The cryptocurrency “Solana” is currently priced at $140 on major trading platforms.

Read also:

Cryptocurrency exchange BitMEX fails to acquire a German bank

Japan’s central bank asks G7 to speed up regulation of cryptocurrency