Bitcoin
Solana Beats Bitcoin and Ethereum ON THIS Front: Will SOL Rise Too?
- SOL’s monthly NFT transactions were much higher than those of Bitcoin, Ethereum.
- ETH weekly sales volume increased, while SOL and BTC fell.
Solana [SOL] continued to dominate the NFT ecosystem last month, followed by stalwarts like Bitcoin [BTC] It is Ethereum [ETH].
Let’s delve deeper into how these blockchains are performing in the NFT space to better understand who is truly leading the market.
Solana takes the cake
Coin98 Analytics recently posted a tweet highlighting the performance of various blockchains in the NFT space.
According to the tweet, SOL was the market leader last month in terms of the total number of unique traders, as their number reached 308 thousand.
Solana was followed by Bitcoin and Ethereum, which had 129,000 and 74,000 unique traders, respectively. Polygon [MATIC] It is Apartments [APT] completed and also reached the top three on the same list.
Solana also outperforms the rest with an impressive 5.2 million monthly NFT transactions. On the other hand, the numbers for BTC and ETH were 550 thousand and 437 thousand, respectively.
AMBCrypto’s view on DappRadar data revealed that STEPN, Mad Lads, and Famous Fox Federation were the top 3 NFT collections on Solana in the last 30 days.
NodeMonkes, Bitcoin Puppets, and RuneStone were the top three BTC collections.
Meanwhile, Bored Ape Yacht Club, Milady Maker, and Mutant Ape Yacht Club occupied the top three positions on the Ethereum blockchain.
It was interesting to note that despite being at the top of the chart, Solana’s monthly NFT sales volume dropped by more than 40%. AMBCrypto reported previously, how BTC surpasses ETH in terms of monthly NFT sales.
However, a similar declining trend was also observed in the NFT sales volume of BTC and ETH, which fell by 62% and 52%, respectively.
However, the number of SOL buyers and sellers increased by double digits, reflecting the high activity.
Source: CRYPTOSLAM
Things have changed in the last seven days in terms of growth as ETH has outperformed the rest. CRYPTOSLAM data revealed that ETH NFT sales volume increased by 17% last week.
Meanwhile, SOL and BTC numbers fell 18% and 37% respectively. Notably, ETH also had the highest sales volume of over $40 million, while SOL’s number was the lowest at $14 million.
Source: CRYPTOSLAM
State of SOL, BTC and ETH
Although the NFT market witnessed a trend change last week, all cryptocurrency prices have turned bullish.
On the one hand, BTC and ETH prices fell by 4.4% and 3.4% respectively, and on the other hand, SOL fell by almost 10%. At the time of writing, BTC is trading below $67K.
According to CoinMarketCapAt press time, ETH and SOL were trading at $3,558 and $144, respectively.
To read Ethereum [ETH] Price prediction 2024-25
Bearish price actions have also affected the social metrics of these cryptocurrencies.
AMBCrypto’s analysis of Santiment data revealed that SOL, BTC, and ETH weighted sentiments fell, meaning bearish sentiment around them was dominant in the market.
Source: Santíment
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