• Solana has seen a drop in NFT activity since the year started.
• SOL’s value has grown tremendously in the last three months.

Despite the re-emergence of interest in profile picture NFTs  (PFPs) since the beginning of the year, Solana [SOL] has witnessed a steady decline in NFT activity. 

According to data from Dune Analytics, the network has seen a steep decline in its count of monthly NFT trades completed since September 2022. With 349,937 NFT trades completed on Solana this month, there has been a 63% drop from the 944,010 total NFT trades completed in January. 

As a result of a consistent fall in NFT trade count on Solana since the year started, the network has also experienced a drop in sales volume. With a sales volume of $35.35 million recorded so far this month, Solana has witnessed a 64% decrease from the $99.37 million registered as total NFT sales volume in January. In the last month alone, this fell by 22%. 

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Author: Abiodun Oladokun

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