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The non-fungible token market is back on the rise, with its daily trading sales volume climbing to over $20 million level. In the past 24 hours, the non-fungible token trading sales volume has surged over 25%, the highest daily sales volume since late January and early February 2025. During this time, Solana has overtaken all blockchain networks to become the leading NFT blockchain in the NFT market.
Solana Tops The NFT Market Chart
Data compiled by CryptoSlam.io, an on-chain crypto market data aggregator and a multi-chain non-fungible token collection explorer, shows that the global non-fungible token market is back in action. In a significant turnaround, the non-fungible token sales volume has spiked 25% today. In the past 24 hours, the global NFT market has amassed a trading sales volume of $20 million.
Solana, a decentralized blockchain network renowned for hosting a variety of smart contracts for non-fungible token collections, is today’s top most-traded blockchain network in the global NFT market. In the past 24 hours, the Solana-based NFT collections have recorded a trading sales volume of $5.6 million. During this period, the Solana NFT trading sales volume has surged by +140% from the previous day.
The surge in the Solana NFT market is associated with the significant resurgence in the Paradise NFT collection. Launched in February 2025, Paradise is a non-fungible token collection featuring a limited edition of 8,888 NFTs hosted on the Solana blockchain network. The Paradise NFT collection has taken the crypto and NFT communities by storm in the past two days.
Ethereum, the blockchain network renowned in the NFT market for hosting the majority of blue-chip non-fungible token collections, is today’s second most-traded blockchain network in the NFT market. In the past 24 hours, the Ethereum-based NFTs have recorded a trading sales volume of over $5.5 million. During this period, the Ethereum NFT trading sales volume plunged by 5.83% from the previous day.
Factors Fueling The Recent NFT Growth
The general non-fungible token market sales increase appears to be boosted by significant developments in the United States political and regulatory landscape, among other factors. Earlier this month, the United States Securities and Exchange Commission dropped a probe into Yuga Labs, the digital asset incubation studio, and the Bored Ape Yacht Club and Mutant Ape Yacht Club NFT creators. The commission has also dropped a probe into the OpenSea and other notable NFT projects.
After 3+ years, the SEC has officially closed its investigation into Yuga Labs.
This is a huge win for NFTs and all creators pushing our ecosystem forward. NFTs are not securities.
— Yuga Labs (@yugalabs) March 3, 2025
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