History Made as Solana Trumps Ethereum in 24-Hour NFT Trade Volume

Despite Ethereum’s supreme reign over NFT trade volume figures, a recent 24-hour period saw the heavyweight blockchain playing second fiddle to its closest NFT blockchain rival, Solana. This period marks the first-ever time in which the smaller Solana market has overtaken Ethereum in terms of dollar-amount generated via sales during a 24-hour span. 

The modest victory of Solana, which, as per data from CryptoSlam, saw it render nearly $24.3 million in total trade, as opposed to Ethereum’s $24 million, is largely put down to the mint and subsequent secondary market sales of the Trippin’ Ape Tribe collection, which landed on Magic Eden on Tuesday. The collection alone was responsible for over $14.5 million of Solana’s total trade during the time span in question, which simultaneously contributed to the blockchain’s 436% increase in overall NFT trade volume throughout the same window. 

In addition to helping Solana achieve such novel moment of trade volume-triumph, the Trippin’ Ape Tribe collection also serves as the second ever Solana-based project to lead the overall NFT trade volume chart for a given 24 hour period, with last month’s Okay Bears project being the first. Such chart-topping was also a landslide to say the least, as its runner-up, Ethereum’s Bored Ape collection, rendered a relatively mere $3.5 million in sales. 

For those curious of the collection behind the turning-of-blockchain-tables (which we can assume will be one of temporary nature), the Trippin’ Ape Tribe project is a collection of 10,000 PFP style apes, each marked with an array of surreal visual features that resemble those of the Mutant Ape project (although some aptly come with a trippy background).

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

The post History Made as Solana Trumps Ethereum in 24-Hour NFT Trade Volume appeared first on NFT Plazas.


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