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Investor interest in <a href="https://crypto.news/learn/a-complete-guide-to-nfts/">non-fungible tokens</a> (NFTs) has declined significantly for the first time since early November. 
Despite the market downturn, Solana (<a href="https://crypto.news/price/solana/">SOL</a>) became the second-largest network for the asset class. 
According to data provided by CryptoSlam, the global NFT sales volume witnessed a 42% plunge in the past 24 hours, falling to $64.3 million. The total number of NFT transactions also declined by 21%, closing down to the 350,000 mark. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="101" src="https://crypto.news/app/uploads/2023/12/NFT-sales-volume-Dec.-18-1024x101.png" alt="NFT sales decline, Solana surpasses Ethereum’s volume - 21" class="wp-image-14228704">
 <figcaption class="wp-element-caption">
 NFT sales and wash trades volume – Dec. 18 | Source: CryptoSlam
 </figcaption>
</figure> 
The notable plunges come three days after the <a href="https://crypto.news/glossary/opensea-nft-marketplace/">NFT</a> sales volume hit a 20-month-high of $132.3 million on Dec. 15 — a level last seen in mid-May 2022.&nbsp; 
 You might also like: <a href="https://crypto.news/ftx-proposes-plan-to-end-bankruptcy/"> FTX proposes plan to end bankruptcy </a> 
Per CryptoSlam data, while the amount of wash trades declined by 16.5% — currently standing at $6.5 million — the number of wash transactions witnessed a significant surge of 90.7%, surpassing the 30,000 mark in a day. 
<h1 class="wp-block-heading" id="solana-s-rally">Solana’s rally</h1> 
Ethereum has been dominating the NFT scene since the creation of digital collectibles until the Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) Ordinals arrived, making Ethereum take the second spot.&nbsp; 
However, CryptoSlam data shows that Solana surpassed Ethereum by a slight difference, becoming the second-largest blockchain for NFTs with a 24-hour trading volume of $9.58 million. Ethereum took the third spot with a $9.57 million sales volume. 
One of the key points for the fall of the NFT sales volume could be the downward momentum of the broader crypto market. Per a recent report, last week digital investment products<a href="https://crypto.news/crypto-investment-products-saw-outflows-ending-an-11-week-run-of-inflows/"> saw a total of $16 million outflows</a> for the first time after 11 weeks.&nbsp; 
 Read more: <a href="https://crypto.news/hnt-surges-19-price-cooldown-expected/"> HNT surges 19%, price cooldown expected </a>

NFT sales decline, Solana surpasses Ethereum’s volume

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