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The non-fungible token market is again on the rise, with its every day buying and selling gross sales quantity climbing to over $20 million stage. Prior to now 24 hours, the non-fungible token buying and selling gross sales quantity has surged over 25%, the very best every day gross sales quantity since late January and early February 2025. Throughout this time, Solana has overtaken all blockchain networks to develop into the main NFT blockchain within the NFT market.
Solana Tops The NFT Market Chart
Information compiled by CryptoSlam.io, an on-chain crypto market information aggregator and a multi-chain non-fungible token assortment explorer, exhibits that the worldwide non-fungible token market is again in motion. In a big turnaround, the non-fungible token gross sales quantity has spiked 25% at the moment. Prior to now 24 hours, the worldwide NFT market has amassed a buying and selling gross sales quantity of $20 million.
Solana, a decentralized blockchain community famend for internet hosting quite a lot of sensible contracts for non-fungible token collections, is at the moment’s high most-traded blockchain community within the international NFT market. Prior to now 24 hours, the Solana-based NFT collections have recorded a buying and selling gross sales quantity of $5.6 million. Throughout this era, the Solana NFT buying and selling gross sales quantity has surged by +140% from the day past.
The surge within the Solana NFT market is related to the numerous resurgence within the Paradise NFT assortment. Launched in February 2025, Paradise is a non-fungible token assortment that includes a restricted version of 8,888 NFTs hosted on the Solana blockchain community. The Paradise NFT assortment has taken the crypto and NFT communities by storm up to now two days.
Ethereum, the blockchain community famend within the NFT marketplace for internet hosting the vast majority of blue-chip non-fungible token collections, is at the moment’s second most-traded blockchain community within the NFT market. Prior to now 24 hours, the Ethereum-based NFTs have recorded a buying and selling gross sales quantity of over $5.5 million. Throughout this era, the Ethereum NFT buying and selling gross sales quantity plunged by 5.83% from the day past.
Elements Fueling The Current NFT Development
The final non-fungible token market gross sales enhance seems to be boosted by important developments in america political and regulatory panorama, amongst different components. Earlier this month, america Securities and Trade Fee dropped a probe into Yuga Labs, the digital asset incubation studio, and the Bored Ape Yacht Membership and Mutant Ape Yacht Membership NFT creators. The fee has additionally dropped a probe into the OpenSea and different notable NFT initiatives.
After 3+ years, the SEC has formally closed its investigation into Yuga Labs.
It is a large win for NFTs and all creators pushing our ecosystem ahead. NFTs are usually not securities.
— Yuga Labs (@yugalabs) March 3, 2025
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