Solana-based nonfungible tokens (NFTs) have surged past $5 billion in all-time sales volume, signaling a significant turnaround for the blockchain platform in the NFT sector.

This achievement underscores Solana‘s growing prominence, with over 2.2 million buyers and 1.6 million sellers engaging in nearly 43 million transactions.

The recent spike in Solana NFT sales contrasts with previous stagnant performance, with monthly volumes hovering around $40 million until October 2023. In November 2023, sales surged to $82 million, followed by $365 million in December, nearly matching Ethereum’s figures.

Solana’s NFT market growth aligns with the bullish trend of the SOL token, which has seen a substantial price surge, reaching $102.73 in current trading. Despite a slight dip in January, Solana NFTs recorded over $239 million in sales, with February’s monthly volume at $161 million, contributing to over $1 billion in sales volume in the past nine months.

The uptick in sales can be attributed to growing enthusiasm for the Solana ecosystem and initiatives offering incentives like airdrops. Projects like Tensorians and Mad Lads have seen significant trading volumes, fueling Solana’s NFT market expansion.

Analysts predict a decline in Ethereum’s NFT market share, citing issues like congestion and high gas fees. This has led to a migration of NFT applications to alternative blockchains like Solana, positioning it as a primary beneficiary of the shifting landscape.

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Okcoin has employed three senior gross sales hires throughout North America, Europe, and Oceania, every having substantial international trade (FX) expertise.

The cryptocurrency platform appointed ex-LMAX Tom Gould as Head of Gross sales, North America; ex-LSEG Iskandar Vanblarcum as Head of Gross sales and Basic Supervisor, Europe; and ex-EQONEX Paul Goldman as Basic Supervisor, Australia.

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FX trade executives going crypto

The three executives will work with Okcoin gross sales leaders in Asia and Latin America to assist develop Okcoin institutional accounts, which grew by 450% in 2021.

Simon Ren, Government Vice President of Institutional Enterprise at Okcoin, stated: “Onboarding a variety of establishments onto Okcoin’s platform at scale requires a deep understanding of monetary markets, and we’re happy to have employed three banking trade veterans to steer the hassle. Tom Gould, Iskandar Vanblarcum, and Paul Goldman every possess the investing prowess and enterprise acumen to raise Okcoin’s institutional providing on a world degree.”

Tom Gould joins Okcoin from LMAX, the place he served as Head of US Gross sales for LMAX Trade. Previous to that, he held roles as Director of E-Commerce FX Gross sales at Financial institution of America and Director of eFX Gross sales at Credit score Suisse.

Iskandar Vanblarcum joins the highest tier digital asset trade from London Inventory Trade Group/Refinitiv/Thomson Reuters, the place he was Head of FX New Enterprise. Different previous roles embrace Managing Director in FX Gross sales at Barclays Capital.

Paul Goldman joins Okcoin from Nasdaq-listed cryptocurrency trade EQONEX, the place he was Head of Gross sales. EQONEX is presently beneath assessment by the board because the agency fired chief government Richard Byworth and is trying to be taken over.

Goldman’s previous roles embrace Head of Gross sales at Ceevo, Director of eFX Gross sales and Margin FX Enterprise Administration at HSBC, and Director of FX Gross sales and eFX Enterprise Administration at Macquarie Group.

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62% institutional buyers with zero publicity enter crypto in 2022

In keeping with analysis by Nickel Digital Asset Administration, 62% of worldwide institutional buyers with zero publicity to cryptocurrencies count on to make their first investments in crypto inside the subsequent 12 months.

Okcoin is trying to onboard a major quantity of institutional buyers with the assistance of the three FX trade veterans Gould, Vanblarcum, and Goldman.

Okcoin presents a regulated platform with entry to bundled buying and selling merchandise together with trade liquidity, OTC buying and selling, pockets providers, sub-account administration, post-trade settlement, and an API for Earn, the platform’s decentralized finance (DeFi) and staking characteristic.

The agency was based in 2013 and serves each institutional and retail buyers throughout greater than 190 nations, with licenses within the US, European Union, Canada, Japan, Puerto Rico, and extra with places of work throughout the globe.

Okcoin presents superior buying and selling instruments, buying and selling and account administration APIs, versatile settlement choices, and 24/7 shopper providers to a variety of establishments, together with buy-side managers, liquidity and fee suppliers, retail brokers, buying and selling companies, and extra.

The trade platform presents 50+ buying and selling pairs and continues to listing new property for buying and selling, equivalent to Stacks (STX), Avalanche (AVAX), and MiamiCoin (MIA).