Credit goes to Marqu, whose insightful analysis significantly contributed to the calculation of NFT sales activity on Solana. Explore Marqu's impressive dashboard, providing comprehensive coverage of cNFTs.

In the final quarter of the year, SOL embarked on a staggering ascent, witnessing a parabolic surge from $20 to $120 within a mere 10 weeks. This meteoric rise, coupled with substantial airdrops within the Solana ecosystem, triggered an overwhelming influx of capital into DeFi and NFTs. Consequently, NFT trading activity peaked in mid-December, registering a formidable volume of nearly $25 million.

Amidst the multitude of cNFT collections, "Tensorians" emerged as a standout player, contributing significantly to the heightened trading volumes by achieving a floor price of 100 SOL. The advent of SPL-20 collections, denoting inscriptions on the Solana blockchain, also commanded a substantial share of the overall trading volume.

While top-tier NFTs dominated the landscape, other noteworthy collections, such as "Quekz," secured their place in the market, capturing a meaningful portion of the total trading volume. In a dynamic environment marked by SOL's rapid appreciation and the consequential surge in airdrop-driven capital, diverse NFT collections played distinctive roles in shaping the vibrant ecosystem of digital assets.

Tensor has emerged as the go-to marketplace for a significant majority of users within the Solana ecosystem. While Tensor has intensified its efforts in advancing Solana's capabilities, incorporating features such as cNFTs, launching its own collection, and implementing a season-based point system, Magic Eden has strategically shifted its focus towards exploring opportunities in various blockchain ecosystems, with a notable emphasis on Bitcoin Ordinals.

Notable catalysts, both internal and external, played a pivotal role in nearly quadrupling the floor price of Mad Lads, surging from around 50 to approximately 200 SOL. Strategic initiatives by the collection's team significantly influenced this surge. The introduction of the Backpack exchange marked the initial catalyst, accompanied by the allocation of PYTH tokens to those registered with the exchange and holding a Mad Lad NFT. This distribution of PYTH tokens generated substantial demand for the NFTs, resulting in a notable increase in the floor price in mid-November.

Another event contributing to this surge was a raffle for a new 1:1 NFT within the collection at the end of November. Each Mad Lads NFT served as an entry ticket, introducing additional buying pressure and further elevating the floor price. The culmination of these events coincided with a broader market uptrend in December, leading to a significant capital influx into the NFT ecosystem and consequent floor price increases across top collections.

It's important to note a broader trend extending beyond Mad Lads, permeating the entire crypto space. Prominent collections, including Mad Lads and Tensorians, are receiving token allocations for both current and future airdrops as their cultural allocations. This trend signifies that these collections are gaining additional value by essentially generating free tokens for their holders. In essence, the anticipation of future airdrop allocations is fueling demand for these collections, creating a dynamic where top collections are increasingly perceived as valuable assets.