Solana trading volume hits all-time high after Y00ts mint t00bs NFTs

The NFT collection, Y00ts, has finally made history as it pushed Solana’s blockchain transaction volume to an all-time high. Magic Eden and Metaplex recorded the highest NFT trading volume since May.

Ever since the DeGods NFT team announced the launch of the Y00ts NFT collection and whitelist, Solana saw a sudden burst of interest among the NFT community that clogged its marketplace.

Despite the frequent delays, Y00ts mint t00bs was a complete success pushing Magic Eden’s NFT volume to 36.6% on Sep 7 from its previous high of 12%.

As of now, y00ts mint t00bs floor price is at 122 SOL ($4,689) with a total trading volume of 354.8K SOL ($13M) on Sep 12. Data shows the collection has surpassed BAYC and ENS NFTs over a few weeks.

Dust Labs, the creator of Y00ts and DeGods NFT collection also announced it received $7M in its funding round this week from big investors, such as FTX Ventures and Solana Ventures.

According to recent reports, the NFTs minted and created on the Solana blockchain have also significantly increased this month. This might be good news for the overall NFT bear market.

Compared to Magic Eden, OpenSea saw a 62% decrease in its trading volume in August, based on Dune Analytics. All the Ethereum-based NFT collections are still seeing slow trade.

However, the increase in Solana NFT trading volume might result in the overall market picking up pace this month ahead of the Ethereum PoS merge coming this week.

Solana also saw a low transaction volume since June. The blockchain suffered from various scams and a sudden shutdown for four hours, affecting its validators and other platforms.

Now, Solana NFTs minted on the trading platform have recorded an all-time high of 700%, and are predicted to increase even more in the coming weeks.

Other stories

BTS and Ariana producers are making music for KINGSHIP Bored Ape

Starbucks x Polygon unveils Starbucks Odyssey and Limited Edition NFTs