Solana
Solana NFTs revive and beat Polygon: what about Ethereum NFTs?
- In the last 24 hours, SOL’s NFT sales exceeded $3 million
- Ethereum continued to dominate Solana and Polygon in the NFT ecosystem
Solana [SOL] saw some traction in its NFT ecosystem last week as a few popular collections returned to SOL.
Does this mean that Solana’s NFT ecosystem is poised to see further growth in the coming weeks?
Solana surpasses Polygon
The NFT ecosystem exploded last week as sales across several channels increased. AMBCrypto’s examination of NonFungible data revealed that the total number of NFT sales last week increased.
The total number of unique sellers also increased during the same period.
Non-Fungible
As the market grew, Solana integrated popular NFT collections such as y00ts and DeGod, which had migrated to other chains previously.
To be precise, y00ts came back from Polygon [MATIC], while DeDod was leaving Ethereum [ETH]. The inclusion of these top collections has helped SOL’s NFT space.
According to a Tweeter from SolanaFloor, SOL’s NFT sales reached $25 million in the last seven days. This figure was commendable, as Polygon’s weekly NFT sales were only $8 million.
Nevertheless, Ethereum remained the main player, as its weekly sales volume was $48 million, according to Cryptoslam.
AMBCrypto’s examination of DappRadar data revealed the top-performing collections on Solana. y00ts and DeGods reached the top 5, along with Mad Lads, Frogana and SMB Gen 2.
Source: DappRadar
Is Solana still ahead of Polygon?
To see if Solana continued to dominate Polygon, AMBCrypto checked its performance over the past 24 hours. According to our analysis, Solana continued to outperform Polygon.
While Polygon’s 24-hour sales volume was just over $1 million, SOL’s was $3 million.
Source: CRYPTOSLAM
However, it was interesting to note that despite high sales volume, SOL’s total transactions decreased by over 10% while Polygon’s increased by 17%.
Nonetheless, they were both still significantly behind Ethereum. The altcoin king’s 24-hour sales volume exceeded $6 million, an increase of 17% from the previous day.
The total number of Ethereum buyers, sellers, and transactions have all increased by 9.8%, 8.9%, and 12%, respectively, over the past 24 hours.
Source: CRYPTOSLAM
Realistic or not, here it is Market capitalization of SOL in terms of ETH
SOL has become bullish
As the blockchain’s NFT space has flourished, the price action of its native token has also turned bullish. According to CoinMarketCapthe price of SOL has increased by more than 14% in the last seven days.
In fact, in the last 24 hours alone, it has jumped 6%. At the time of writing, SOL was trading at $155.92 with a market cap of over $69.7 billion, making it the fifth largest cryptocurrency.