Following NFT hype and growing demand in the DeFi community, the price of cryptocurrency Solana or SOL more than tripled during the summer of 2021. This had all but evaporated by the end of 2022, as a price of 151 U.S. dollars for SOL on Jun 30, 2025, was similar to the price of Solana in early 2021. The collapse of crypto trader FTX in 2022 especially impacted the cryptocurrency, as FTX and its sister firm Alameda Research sold a large amount of the coin to avoid bankruptcy. The Solana protocol is similar to Ethereum in that it can allow for nun-fungible tokens to be created ('minted') or traded. Solana, however, uses a technology called 'PoH' or Proof of History, which allows it to reach high transaction speeds. The Solana Foundation - the creators of the protocol, based in Switzerland - claims they could reach up to 65,000 transactions per second compared to 16 for Ethereum. Additionally, Solano had no transaction fees or 'gas', unlike Ethereum, which had growing transaction costs. These two reasons combined - Solana being deemed cheaper and faster than Ethereum - turned this relatively young protocol into a breeding ground for NFT projects in August 2021.

The market cap of Solana, a cryptocurrency connected with Decentralized Finance or DeFi, grew by 400 percent in the summer of 2021. Originally launched only in April 2020, the rapid growth in 2021 made the digital coin one of the biggest in the world in terms of market capitalization. The altcoin's move into the spotlight coincided with the growing interest in NFTs and especially DeFi, as Solana is one of the biggest blockchains in this world. It is seen as a direct competitor to Ethereum, in that it can power decentralized applications, but in a more efficient way. Solana is said, for instance, to reach transaction speeds that are similar to a VISA transaction whilst using far less energy than Bitcoin miners.

The dominance of Solana (SOL) almost tripled between July and August 2021, and continued to grow in the following months. Within the crypto world, this so-called "dominance" ratio is one of the oldest and most investigated metrics available. It measures the coin's market cap relative to the overall crypto market - for instance, it shows how strong Bitcoin is compared to all the other cryptocurrencies that are not BTC, called "altcoins". In the case of Solana, the dominance somewhat reveals how often it is used for smart contracts and whether it is a popular blockchain for Decentralized Finance (DeFi) applications.

The price of Solana was especially volatile in September 2021, with percentages changing significantly on a near daily basis. Some sources attribute these price fluctuations to investor sentiment - with uncertainty on China's Evergrande dominating financial news during that time. Measured in a metric called volatility, the percentage shown here reflect how much the price of Solana in U.S. dollars changed historically over a preceding 10-day window. Changes can be either up or down, with a higher volatility reflecting that an asset is more risky, as price movements are less easy to predict and can swing in any direction.

By July 2024, over 464 million Solana tokens were issued and in active circulation - but new coins arrive slowly. Although the cryptocurrency has an unlimited supply - unlike Bitcoin, of which there can only be 21 million tokens and not a single more - the Solana blockchain only issues a set amount of new tokens at the beginning of each year. This issuance is based off the year-to-year inflation rate, and can therefore vary. When SOL first launched, there was a maximum supply of around 500 million, but the blockchain burned (erased from the blockchain) 11 million of them. By December 2021, the maximum supply was around 510 million SOL.

Cryptocurrency historical datasets from January 2012 (if available) to October 2021 were obtained and integrated from various sources and Application Programming Interfaces (APIs) including Yahoo Finance, Cryptodownload, CoinMarketCap, various Kaggle datasets, and multiple APIs. While these datasets used various formats of time (e.g., minutes, hours, days), in order to integrate the datasets days format was used for in this research study. The integrated cryptocurrency historical datasets for 80 cryptocurrencies including but not limited to Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), Tether (USDT), Ripple (XRP), Solana (SOL), Polkadot (DOT), USD Coin (USDC), Dogecoin (DOGE), Tron (TRX), Bitcoin Cash (BCH), Litecoin (LTC), EOS (EOS), Cosmos (ATOM), Stellar (XLM), Wrapped Bitcoin (WBTC), Uniswap (UNI), Terra (LUNA), SHIBA INU (SHIB), and 60 more cryptocurrencies were uploaded in this online Mendeley data repository. Although the primary attribute of including the mentioned cryptocurrencies was the Market Capitalization, a subject matter expert i.e., a professional trader has also guided the initial selection of the cryptocurrencies by analyzing various indicators such as Relative Strength Index (RSI), Moving Average Convergence/Divergence (MACD), MYC Signals, Bollinger Bands, Fibonacci Retracement, Stochastic Oscillator and Ichimoku Cloud. The primary features of this dataset that were used as the decision-making criteria of the CLUS-MCDA II approach are Timestamps, Open, High, Low, Closed, Volume (Currency), % Change (7 days and 24 hours), Market Cap and Weighted Price values. The available excel and CSV files in this data set are just part of the integrated data and other databases, datasets and API References that was used in this study are as follows: [1] https://finance.yahoo.com/ [2] https://coinmarketcap.com/historical/ [3] https://cryptodatadownload.com/ [4] https://kaggle.com/philmohun/cryptocurrency-financial-data [5] https://kaggle.com/deepshah16/meme-cryptocurrency-historical-data [6] https://kaggle.com/sudalairajkumar/cryptocurrencypricehistory [7] https://min-api.cryptocompare.com/data/price?fsym=BTC&tsyms=USD [8] https://min-api.cryptocompare.com/ [9] https://p.nomics.com/cryptocurrency-bitcoin-api [10] https://www.coinapi.io/ [11] https://www.coingecko.com/en/api [12] https://cryptowat.ch/ [13] https://www.alphavantage.co/ This dataset is part of the CLUS-MCDA (Cluster analysis for improving Multiple Criteria Decision Analysis) and CLUS-MCDAII Project: https://aimaghsoodi.github.io/CLUSMCDA-R-Package/ https://github.com/Aimaghsoodi/CLUS-MCDA-II https://github.com/azadkavian/CLUS-MCDA

This dataset tracks annual reduced-price lunch eligibility from 2002 to 2023 for Solana Vista Elementary School vs. California and Solana Beach Elementary School District

Wall Street Bets Solana Ang pagsubaybay sa kasaysayan ng presyo ay nagbibigay-daan sa mga crypto investor na madaling masubaybayan ang performance ng kanilang pamumuhunan. Maginhawa mong masusubaybayan ang opening value, high, at close sa Wall Street Bets Solana sa paglipas ng panahon, pati na rin ang trade volume. Bukod pa rito, maaari mong agad na tingnan ang pang-araw-araw na pagbabago bilang isang porsyento, na ginagawang effortless na tukuyin ang mga araw na may significant fluctuations. Ayon sa aming data ng history ng presyo ng Wall Street Bets Solana, tumaas ang halaga nito sa hindi pa naganap na peak sa 2024-02-03, na lumampas sa $0.0006642 USD. Sa kabilang banda, ang pinakamababang punto sa trajectory ng presyo ni Wall Street Bets Solana, na karaniwang tinutukoy bilang "Wall Street Bets Solana all-time low", ay naganap noong 2025-04-08. Kung ang isa ay bumili ng Wall Street Bets Solana sa panahong iyon, kasalukuyan silang masisiyahan sa isang kahanga-hangang kita na -100%. Sa pamamagitan ng disenyo, ang 6.9B Wall Street Bets Solana ay malilikha. Sa ngayon, ang circulating supply ng Wall Street Bets Solana ay tinatayang 0. Ang lahat ng mga presyong nakalista sa pahinang ito ay nakuha mula sa Bitget, galing sa isang reliable source. Napakahalagang umasa sa iisang pinagmulan upang suriin ang iyong mga investment, dahil maaaring mag-iba ang mga halaga sa iba't ibang nagbebenta. Kasama sa aming makasaysayang Wall Street Bets Solana dataset ng presyo ang data sa pagitan ng 1 minuto, 1 araw, 1 linggo, at 1 buwan (bukas/mataas/mababa/close/volume). Ang mga dataset na ito ay sumailalim sa mahigpit na pagsubok upang matiyak ang consistency, pagkakumpleto, at accurancy. Ang mga ito ay partikular na idinisenyo para sa trade simulation at mga layunin ng backtesting, madaling magagamit para sa libreng pag-download, at na-update sa real-time.

Solana Kit Ang pagsubaybay sa kasaysayan ng presyo ay nagbibigay-daan sa mga crypto investor na madaling masubaybayan ang performance ng kanilang pamumuhunan. Maginhawa mong masusubaybayan ang opening value, high, at close sa Solana Kit sa paglipas ng panahon, pati na rin ang trade volume. Bukod pa rito, maaari mong agad na tingnan ang pang-araw-araw na pagbabago bilang isang porsyento, na ginagawang effortless na tukuyin ang mga araw na may significant fluctuations. Ayon sa aming data ng history ng presyo ng Solana Kit, tumaas ang halaga nito sa hindi pa naganap na peak sa 2024-04-15, na lumampas sa $0.03866 USD. Sa kabilang banda, ang pinakamababang punto sa trajectory ng presyo ni Solana Kit, na karaniwang tinutukoy bilang "Solana Kit all-time low", ay naganap noong 2024-08-04. Kung ang isa ay bumili ng Solana Kit sa panahong iyon, kasalukuyan silang masisiyahan sa isang kahanga-hangang kita na -100%. Sa pamamagitan ng disenyo, ang 100,000,000 Solana Kit ay malilikha. Sa ngayon, ang circulating supply ng Solana Kit ay tinatayang 0. Ang lahat ng mga presyong nakalista sa pahinang ito ay nakuha mula sa Bitget, galing sa isang reliable source. Napakahalagang umasa sa iisang pinagmulan upang suriin ang iyong mga investment, dahil maaaring mag-iba ang mga halaga sa iba't ibang nagbebenta. Kasama sa aming makasaysayang Solana Kit dataset ng presyo ang data sa pagitan ng 1 minuto, 1 araw, 1 linggo, at 1 buwan (bukas/mataas/mababa/close/volume). Ang mga dataset na ito ay sumailalim sa mahigpit na pagsubok upang matiyak ang consistency, pagkakumpleto, at accurancy. Ang mga ito ay partikular na idinisenyo para sa trade simulation at mga layunin ng backtesting, madaling magagamit para sa libreng pag-download, at na-update sa real-time.

The sum of Solana network fees paid whenever a payment transaction is initiated on the blockchain stayed roughly the same since October 2021. These transaction fees - commonly denoted as gas - exceeded over 1,000 SOL on a single day. Given that the Solana blockchain can process millions of transactions per day, this means that the gas price of an individual SOL would be well below 0.01. The growing gas sum coincided with the increasing importance of Decentralized Finance or DeFi, and more blockchains being used for the development of new financial applications.

HairyPotheadTrempSanic69Inu Ang pagsubaybay sa kasaysayan ng presyo ay nagbibigay-daan sa mga crypto investor na madaling masubaybayan ang performance ng kanilang pamumuhunan. Maginhawa mong masusubaybayan ang opening value, high, at close sa HairyPotheadTrempSanic69Inu sa paglipas ng panahon, pati na rin ang trade volume. Bukod pa rito, maaari mong agad na tingnan ang pang-araw-araw na pagbabago bilang isang porsyento, na ginagawang effortless na tukuyin ang mga araw na may significant fluctuations. Ayon sa aming data ng history ng presyo ng HairyPotheadTrempSanic69Inu, tumaas ang halaga nito sa hindi pa naganap na peak sa 2024-04-02, na lumampas sa $0.001359 USD. Sa kabilang banda, ang pinakamababang punto sa trajectory ng presyo ni HairyPotheadTrempSanic69Inu, na karaniwang tinutukoy bilang "HairyPotheadTrempSanic69Inu all-time low", ay naganap noong 2025-04-07. Kung ang isa ay bumili ng HairyPotheadTrempSanic69Inu sa panahong iyon, kasalukuyan silang masisiyahan sa isang kahanga-hangang kita na 89%. Sa pamamagitan ng disenyo, ang 999,971,519.65 HairyPotheadTrempSanic69Inu ay malilikha. Sa ngayon, ang circulating supply ng HairyPotheadTrempSanic69Inu ay tinatayang 0. Ang lahat ng mga presyong nakalista sa pahinang ito ay nakuha mula sa Bitget, galing sa isang reliable source. Napakahalagang umasa sa iisang pinagmulan upang suriin ang iyong mga investment, dahil maaaring mag-iba ang mga halaga sa iba't ibang nagbebenta. Kasama sa aming makasaysayang HairyPotheadTrempSanic69Inu dataset ng presyo ang data sa pagitan ng 1 minuto, 1 araw, 1 linggo, at 1 buwan (bukas/mataas/mababa/close/volume). Ang mga dataset na ito ay sumailalim sa mahigpit na pagsubok upang matiyak ang consistency, pagkakumpleto, at accurancy. Ang mga ito ay partikular na idinisenyo para sa trade simulation at mga layunin ng backtesting, madaling magagamit para sa libreng pag-download, at na-update sa real-time.

Solana's trading volume increased significantly on September 7, 2021, compared to the previous and following days due to changes in Ethereum's transaction fees. Indeed, these so-called gas prices from Ethereum increased by around 300 percent on that single day. This caused many people to look for cheaper blockchains that - like Ethereum - provide an infrastructure for the development of Decentralized Finance or DeFi applications.

The price of the native coin from BNB Chain (formerly BSC) grew by 50 percent in late 2021 but was much lower in 2022. On June 30, 2025, for example, a single BNB coin was worth more than 654.92 U.S. dollars - a value that is very different from the all-time high of 600 U.S. dollars in November 2021. Regardless, Binance Coin ranked in the top 10 most expensive cryptocurrencies in 2022. Noticeable is that the price increase of BNB in November 2021 coincides with a similar price change for Ethereum (ETH) - a cryptocurrency where BNB initially originated in 2017 before coming to its own years later. BNB’s history: From reward token in 2017 to an ecosystem after 2019 As the name suggests, Binance Coin or BNB originally started as an extension of the Binance.com trading platform - the most used cryptocurrency exchange in the world. It initially functioned on the Ethereum blockchain network as an ERC-20 token, offering incentives to owners like reduced trading fees, affiliate rewards, or a lottery ticket system (“Launchpad”) that let users invest in new, Binance-selected crypto projects. In 2019, however, BNB moved away from the Ethereum network and migrated to Binance’s self-developed blockchain: Binance Smart Chain or BSC (called BNB Chain since February 2022). Here, BNB started to support a chain that initially did not focus on hosting decentralized apps but focused on high transaction speed and being able to handle large amounts of traffic. DeFi and GameFi: the main segments for BNB BSC, however, made significant strides in 2021 partly due to traffic overload and high gas prices on Ethereum as well as the growing interest in both Decentralized Finance (DeFI) and NFTs. Much like Cardano, Solana, and Terra, Binance Smart Chain consequently became a valid alternative to Ethereum: The total value locked (TVL) of BNBs blockchain within DeFi, for example, ranked only behind that of Terra and Ethereum in early 2022. Another area where Binance’s blockchain and token play a significant role is that of GameFi - or “play-to-earn” blockchain games that are powered by cryptocurrencies. Some of the more well-known and most popular NFT games like Alien Worlds and Axie Infinity run on the blockchain behind BNB.

The number of addresses that actively sent or received Solana coins on the blockchain grew by over 25,000 between October and November 2021. Reaching well over two million addresses for the month of November, the graphic reveals that network activity was at its highest recorded level since the start of 2021. This is due to the growing popularity of both NFTs and Decentralized Finance (DeFi) combined with the growing transactions fees on Ethereum - the biggest blockchain for both of these activities. The growing gas price for Ethereum led people to find both cheaper as well as faster alternatives, of which Solana is one.

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Non-Fungible Token (NFT) Market Size 2025-2029

The non-fungible token (NFT) market size is forecast to increase by USD 84.13 billion, at a CAGR of 30.3% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing demand for digital art and collectibles. This trend is further fueled by the growing interest of major brands in NFTs as a new marketing and revenue generation channel. However, the market faces uncertainty due to regulatory ambiguity and the lack of standardization, which may hinder widespread adoption. Companies seeking to capitalize on this market's potential must navigate these challenges effectively by staying informed of regulatory developments and investing in technology and partnerships to ensure the security and authenticity of their NFT offerings. Additionally, collaboration with artists and creators to develop unique and desirable digital assets can help differentiate offerings and build a loyal customer base.
Overall, the NFT market presents a lucrative opportunity for businesses to monetize digital content and engage with consumers in innovative ways, but careful planning and strategic execution are essential to succeed in this dynamic and evolving landscape.

What will be the Size of the Non-Fungible Token (NFT) Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market continues to evolve, with new dynamics and applications emerging across various sectors. NFTs, unique digital assets stored on a blockchain, have gained traction in the digital art world, but their potential extends far beyond. NFT governance is a critical aspect of this market, ensuring fair and transparent rules for creating, trading, and owning these tokens. The Solana network, known for its fast and low-cost transactions, has gained popularity among NFT creators due to its efficiency and scalability. The secondary market for NFTs is thriving, with buyers and sellers trading these tokens on various marketplaces. Valuation of NFTs is a complex process, influenced by factors such as rarity, creator reputation, and community interest.

Intellectual property rights and legal frameworks are being established to address the unique challenges posed by NFTs. NFT minting, the process of creating new tokens, is becoming more accessible with the rise of user-friendly platforms. Digital art, a prominent use case for NFTs, is revolutionizing the way artists monetize their work and interact with fans. NFT derivatives, such as options and futures, are being explored to expand the market's potential. Proof of ownership is a fundamental aspect of NFTs, providing buyers with a verifiable and immutable record of ownership. NFT adoption is growing, with use cases ranging from virtual real estate and supply chain management to decentralized applications (dApps) and digital certificates.

The NFT community is a vibrant and diverse group, with enthusiasts, creators, investors, and developers collaborating to push the boundaries of this technology. Ethereum and Polygon networks are popular choices for NFT creation and trading, but other networks, such as Solana, are gaining ground. Gas fees, the cost of executing transactions on blockchain networks, are a concern for some NFT buyers and sellers. Blockchain technology, the foundation of NFTs, continues to evolve, with improvements in scalability and efficiency. NFT auctions, staking, lending, and investment are emerging trends in the NFT market. Digital asset management platforms are offering solutions to help investors manage their NFT portfolios.

NFT fraud is a growing concern, with scams and hacking attempts targeting unsuspecting buyers and sellers. NFTs are also being used in virtual worlds, sports memorabilia, and philanthropy. Interoperability between different NFT platforms is a priority to enable seamless trading and usage of these tokens. Smart contracts, self-executing digital agreements, are being used to automate various aspects of NFT transactions. The NFT market is a dynamic and evolving landscape, with new applications and challenges emerging constantly. As this technology continues to unfold, it is essential to stay informed and adapt to the changing market dynamics.

How is this Non-Fungible Token (NFT) Industry segmented?

The non-fungible token (nft) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Collectibles
  Sports
  Arts
  Others


End-user

  Personal
  Commercial


Type

  Physical asset
  Digital asset
  Physical asset
  Digital asset


Geography

  North America

    US
    Canada


  Europe

    Germany
    UK

This dataset tracks annual reduced-price lunch eligibility from 2001 to 2023 for Carmel Creek Elementary School vs. California and Solana Beach Elementary School District

Transactions in NFTs were significantly lower in 2024 than during the summer of 2021 when several tokens gained popularity. Most of these transactions were likely related to play-to-earn Vietnamese video game Axie Infinity, which became the world's most valuable NFT collection in August 2021 - although its sales volume did decline since. The gaming segment reported the highest sales volume of the non-fungible token (NFT) market in 2020, with over *** times the sales in sports projects. The overall market cap of NFTs in 2024, however, was noticeably smaller. NFT in 2024: Searching for legitimacy While cryptocurrency and Bitcoin saw their interest surge in early 2024 after the acceptance of Bitcoin ETFs in the United States, the NFT market has been struggling. For the larger audience, non-fungible tokens still seemed to be confusing what they are supposed to do, whereas crypto increasingly found legitimacy. The slowdown in the NFT market led one of the world's largest NFT marketplaces, OpenSea, to lay off large parts of its staff in October 2023. Solana to pave the way for NFTs? One of the blockchain networks that is closely affiliated with NFTs in 2024 is that of Solana. The monthly sales volume of this blockchain outperformed that of Ethereum in ************, causing Solana's market share in the overall crypto market to reach its highest value ever. Solana's position comes from relatively low costs but especially high transaction speeds and the sizable airdrops from multiple projects. This attracted significant amounts of capital, further fuelling the network. Solana's growth may provide the framework for the NFT market as a whole, as it slowly seeks to take over Ethereum's position in this part of the decentralized digital asset world.

The trading level of Binance Coin in November 2021 was not as high as it was in April and, especially, February 2021. This sudden increase in early 2021 occured as Binance's blockchain called BSC - Binance Smart Chain - was seen as a cheaper alternative in a time when the transaction fees (gas prices) of Ethereum increased. Binance Coin or BNB essentially functions as a fuel for this BSC blockchain, a place where people can create smart contracts or decentralized finance (DeFi) apps. Binance Smart Chain ranked as the second-most important blockchain for Decentralized Finance, behind Ethereum and ahead of Solana.