A Hot New Solana NFT Project, Okay Bears Sold Out in 1 Day With $18M in Sales

Although Ethereum remains the most popular NFT platform, growing challenger Solana is putting up a fight as new projects make headway and key exchanges accept the network. A new Solana NFT project has achieved more trade volume than any Ethereum project in the last day.

Okay Bears, a Solana-based profile picture project with 10,000 unique avatars, launched on Solana NFT marketplace Magic Eden yesterday for 1.5 SOL (about $145) per NFT. Secondary market sales exploded, sending the collection’s price skyrocketing and earning millions of dollars in trade volume.

Okay Bears is the most-traded collection tracked by renowned NFT marketplace OpenSea, knocking out a number of well-known Ethereum collections. Over the past 24 hours, the marketplace has seen 187,543 SOL worth of secondary trade or nearly $18.4 million at Solana’s current pricing. This applies to the entire market, not just OpenSea sales.

In comparison, Gary Vaynerchuk’s new VeeFriends V2 launch saw 4,565 ETH ($13.1 million) worth of trade in the last 24 hours, as did 4,136 ETH ($11.9 million) for Yuga Labs’ recently bought Meebits and 3,534 ETH ($10.1 million) for new project Imaginary Ones.

This appears to be the first time that a Solana NFT project has beat individual Ethereum projects in terms of trading volume over a period of 24 hours. According to CryptoSlam data, Solana NFT trade volume has increased by 216 % in the last 24 hours to $29.1 million, while Ethereum has increased by $104 million in the same time period (down 25%).

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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A Hot New Solana NFT Project, Okay Bears Sold Out in 1 Day With $18M in Sales

Although Ethereum remains the most popular NFT platform, growing challenger Solana is putting up a fight as new projects make headway and key exchanges accept the network. A new Solana NFT project has achieved more trade volume than any Ethereum project in the last day.

Okay Bears, a Solana-based profile picture project with 10,000 unique avatars, launched on Solana NFT marketplace Magic Eden yesterday for 1.5 SOL (about $145) per NFT. Secondary market sales exploded, sending the collection’s price skyrocketing and earning millions of dollars in trade volume.

Okay Bears is the most-traded collection tracked by renowned NFT marketplace OpenSea, knocking out a number of well-known Ethereum collections. Over the past 24 hours, the marketplace has seen 187,543 SOL worth of secondary trade or nearly $18.4 million at Solana’s current pricing. This applies to the entire market, not just OpenSea sales.

In comparison, Gary Vaynerchuk’s new VeeFriends V2 launch saw 4,565 ETH ($13.1 million) worth of trade in the last 24 hours, as did 4,136 ETH ($11.9 million) for Yuga Labs’ recently bought Meebits and 3,534 ETH ($10.1 million) for new project Imaginary Ones.

This appears to be the first time that a Solana NFT project has beat individual Ethereum projects in terms of trading volume over a period of 24 hours. According to CryptoSlam data, Solana NFT trade volume has increased by 216 % in the last 24 hours to $29.1 million, while Ethereum has increased by $104 million in the same time period (down 25%).

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

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