The volume of non-fungible tokens (NFTs) sold on the Solana network has reached a milestone of $5 billion over its entire history. Of this, $217 million was traded in the last 30 days, according to CryptoSlam.

December 2023 became the second-highest month in NFT sales volume on Solana’s history, following October 2021 with sales of $365 million and $373 million, respectively.

According to CryptoSlam, the network has seen over 2.2 million buyers and 1.6 million sellers of NFTs. The total number of NFT transactions has exceeded 43 million.

These metrics surged at the end of 2023 due to the growth of the Solana cryptocurrency, which reached above $118. As of now, the SOL token is trading at $102, and the project’s market capitalization stands at $45 billion, according to CoinGecko.

In early 2024, the daily transaction volume on the Solana blockchain surpassed $40 billion, reaching the highest level since October 2022.

It’s worth noting that on February 6, there was another network outage. Experts attributed these periodic issues to the blockchain’s inability to handle the growing transaction volume.