diff --git a/mm2src/coins/nft/storage/sql_storage.rs b/mm2src/coins/nft/storage/sql_storage.rs
index c1192a445f..18f406a2db 100644
--- a/mm2src/coins/nft/storage/sql_storage.rs
+++ b/mm2src/coins/nft/storage/sql_storage.rs
@@ -164,7 +164,7 @@ fn create_schema_versions_sql() -> Result<String, SqlError> {
     let sql = format!(
         "CREATE TABLE IF NOT EXISTS {} (
     table_name TEXT PRIMARY KEY,
-    version INTEGER NOT NULL,
+    version INTEGER NOT NULL
     );",
         safe_table_name.inner()
     );
@@ -520,9 +520,16 @@ fn update_transfer_spam_by_token_addr_id(chain: &Chain) -> Result<String, SqlErr
     Ok(sql)
 }
 
+/// Generates the SQL command to insert or update the schema version in the `schema_versions` table.
+///
+/// This function creates an SQL command that attempts to insert a new row with the specified
+/// `table_name` and `version`. If a row with the same `table_name` already exists, the `version`
+/// field is updated to the new value provided.
 fn update_schema_version_sql(schema_versions: &SafeTableName) -> String {
     format!(
-        "UPDATE {} SET version = ?1 WHERE table_name = ?2;",
+        "INSERT INTO {} (table_name, version)
+         VALUES (?1, ?2)
+         ON CONFLICT(table_name) DO UPDATE SET version = excluded.version;",
         schema_versions.inner()
     )
 }
@@ -1443,8 +1450,8 @@ fn migrate_tx_history_table_schema(
     sql_tx.execute(&rename_table_sql, [])?;
 
     sql_tx.execute(&update_schema_version_sql(&schema_table), [
-        CURRENT_SCHEMA_VERSION_TX_HISTORY.to_string(),
         history_table.inner().to_string(),
+        CURRENT_SCHEMA_VERSION_TX_HISTORY.to_string(),
     ])?;
 
     sql_tx.commit()?;