December 2024 was a landmark month for NFT activity on Solana, with sales surpassing $102M. Magic Eden's activities and Pudgy Penguins' popularity were key growth drivers.
Rise of NFT Activity on Solana
Solana reached record NFT sales in December 2024, exceeding $102M. The main growth factor was the Magic Eden airdrop, encouraging user activity in the hope of acquiring ME tokens. Throughout December, Solana's daily active addresses ranged from 5M to 6M, further boosting all types of activities.
December NFT Trading Results
In December, Solana experienced a brief spike in NFT sales, reaching bull market levels from March-April. Despite a later entry into the NFT space, Solana attracted many users due to lower fees. The average December sale was $79.93, the highest level for the second half of 2024, while maintaining a low level of wash trading at just 0.20% of daily transactions.
Solana NFT Growth Prospects in 2025
Solana has proven to be a popular platform for community creation. One potential growth vector is the re-buying of former top collections. The Mad Lads collection, for instance, has shown recovery over the past three months. Meanwhile, Solana continues to embrace meme and AI trends, potentially attracting new participants.
Solana's record NFT sales in December 2024 highlight the platform's potential in the growing digital asset sector. Despite current challenges, Solana remains an attractive choice for collectors due to its lower fees and innovative initiatives.
