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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 degree. 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 turn out to be the main NFT blockchain within the NFT market.
Solana Tops The NFT Market Chart
Knowledge compiled by CryptoSlam.io, an on-chain crypto market knowledge aggregator and a multi-chain non-fungible token assortment explorer, reveals that the worldwide non-fungible token market is again in motion. In a major turnaround, the non-fungible token gross sales quantity has spiked 25% at present. 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 good contracts for non-fungible token collections, is at present’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 previously two days.
Ethereum, the blockchain community famend within the NFT marketplace for internet hosting nearly all of blue-chip non-fungible token collections, is at present’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.
Components Fueling The Current NFT Development
The overall non-fungible token market gross sales enhance seems to be boosted by important developments in the USA political and regulatory panorama, amongst different components. Earlier this month, the USA Securities and Change 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.
This can be a big win for NFTs and all creators pushing our ecosystem ahead. NFTs usually are not securities.
— Yuga Labs (@yugalabs) March 3, 2025
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