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Staggering Surge in the Total Sales Volume of NFTs

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The past 30 days have witnessed a staggering surge in the total sales volume of NFTs, climbing by an impressive 65.42% to reach a substantial $620 million, as per data provided by CryptoSlam. Notably, the top three blockchain networks dominating NFT sales during this period are Ethereum, Bitcoin, and Solana. Surprisingly, all three blockchains have experienced significant sales growth: Ethereum soared by 44%, Bitcoin surged by an incredible 1,222%, and Solana witnessed a robust increase of 56%.

This upward trajectory in NFT sales across these prominent blockchain networks reflects a broader trend in the burgeoning NFT market. Ethereum, with its established infrastructure and wide array of NFT projects and marketplaces, continues to maintain a stronghold in the NFT space. The consistent growth of Ethereum's NFT sales signifies its resilience and enduring appeal among creators and collectors.

Looking ahead, the trend of increasing NFT sales is likely to continue its upward trajectory, albeit with potential fluctuations. As more blockchain networks enter the NFT arena and innovations continue to unfold, the market is poised for further expansion, possibly attracting a more diverse range of participants and pushing the boundaries of what NFTs can represent and achieve in the digital realm.

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Well, the surge in NFT sales is connected to the rise in the adoption of Ordinals and Solana while Ethereum based NFTs might just be as a result of the rise of L2 minted NFTs. But one thing is for sure in the next coming months which is the continuous rise in the minting and sales of Solana-based NFTs. I saw a report just 5 days ago that a certain Solana NFT is on sale for $2.65M after it was minted for free a couple of year back.

Even Solana-based tokens are seeing price surge these days with the latest being PYTH, the native token of a highly organized smart contract written with Oracle. The token surged to a massive 60% a day after listing on some exchanges.

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