According to data from the blockchain analysis platform, the transaction volume of the NFT market on the entire network reached US$947 million in September (excluding suspicious wash sales transactions). That compares with $927 million in August, $916 million in July and $1.03 billion in June.
In addition, the NFT market transaction volume in September decreased by 82% compared to January ($5.36 billion). In terms of transaction volume, the number of NFT transactions in September was about 8.78 million, up from 7.68 million in August and 5.89 million in July. The highest monthly sales record at the end of the current year occurred in January, with 12.16 million transactions in that month.
Notably, Solana on-chain NFT sales have skyrocketed in recent weeks, generating nearly $133 million worth of sales in September, nearly double the $68.5 million in sales in August.
Additionally, OpenSea’s market dominance is waning, with OpenSea generating $350 million in NFT transactions in September, while X2Y2 traded nearly $297 million and Magic Eden reached $127 million.