NFTs

Solana NFT Volumes Surge: Impact on SOL Market Performance

Published

3 months ago

12 May, 2024

Solana NFT Volumes Surge: Impact on SOL Market Performance

Solana NFT volumes have surged, surpassing Bitcoin and Ethereum.
DEX volumes on the network continued to fall.

O Solana [SOL] ecosystem has been one of the most successful ecosystems in the crypto space in recent months. One of the reasons for this would be the high volume of Solana NFTs.

Solana NFTs on the Rise

According to recent data, Solana has outperformed both Bitcoin [BTC] It is Ethereum[ETH] in terms of unique NFTs traded in the last month.

Source: X

However, NFT volume was not being driven by blue chip collections on the Solana network.

Popular projects like Mad Lads, Solana Monkey Business, and Clayosaurrz have witnessed a decline in price floor over the past week.

This indicated that NFT volume was driven by new NFTs that were being created on the Solana network and that had not gained much popularity.

Source: Piso Solana

Interesting and less popular NFTs indicate a healthy and thriving ecosystem.

However, Solana’s performance in other areas, such as the DeFi sector, is also important in determining the long-term performance of the protocol and its ecosystem.

In terms of DEX (Decentralized Exchange) volumes, the protocol has witnessed a massive decline in activity, going from $4 billion in volume to $1 billion.

Despite the drop in DEX volumes, the TVL (Total Value Locked) on the Solana network remained roughly the same.

Source: Artemis

How is the price of SOL?

At press time, SOL was trading at $144.93. Despite the popularity of Solana NFTs and the overall health of the ecosystem, the price of SOL continued to fall.

Since April 1st, the price of SOL has fallen by 26.59%. However, after reaching below the $161.28 level, SOL price began to consolidate.

The $161.28 level has been tested twice in recent weeks and with the help of additional bullish momentum, SOL price could again reach previously achieved levels.

Realistic or not, here it is SOL market value in BTC terms

In recent days, the CMF (Chaikin Money Flow) for SOL has risen in recent days, indicating that the money flowing into SOL has increased, which could cause an increase in buying pressure in the future.

However, SOL’s RSI (Relative Strength Index) has plummeted in recent days, indicating that the bullish momentum had slowed for SOL.

Source: TradingView

Fuente

NFTs

Non-Fungible Items; Picking Up Where NFTs Left Off — COZ Co-Founder Tyler Adams – Op-Ed Bitcoin News

Published

27 mins ago

27 July, 2024

TokenTalk Staff

https://news.google.com/./articles/CBMiZmh0dHBzOi8vbmV3cy5iaXRjb2luLmNvbS9ub24tZnVuZ2libGUtaXRlbXMtcGlja2luZy11cC13aGVyZS1uZnRzLWxlZnQtb2ZmLWNvei1jby1mb3VuZGVy LXR5b GVyLWFkYW1zL9IBAA?hl=en-US&gl=US&ceid=US%3Aen

Fuente

NFTs

https://news.google.com/./articles/CBMiKmh0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9idXNpbmVzcy02NzI5NTc4NtIBLmh0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9idXNpbmVzcy02NzI5NTc4 Ni5hbXA?hl=en-US&gl=US&ceid=US%3Aen

Published

1 hour ago

27 July, 2024

TokenTalk Staff

https://news.google.com/./articles/CBMiKmh0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9idXNpbmVzcy02NzI5NTc4NtIBLmh0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9idXNpbmVzcy02NzI5NTc4 Ni5hbXA?hl=en-US&gl=US&ceid=US%3Aen

Fuente

NFTs

AI-Powered Discovery Network for NFTs Launches $PULSR Token – Press Release Bitcoin News

Published

2 hours ago

27 July, 2024

TokenTalk Staff

https://news.google.com/./articles/CBMiVGh0dHBzOi8vbmV3cy5iaXRjb2luLmNvbS9haS1wb3dlcmVkLWRpc2NvdmVyeS1uZXR3b3JrLWZvci1uZnRzLWxhdW5jaGVzLXB1bHNyLXRva2VuL9IBAA?hl= en -US&gl=US&ceid=US%3Aen

Fuente

NFTs

Solana Monkey Business Leads NFT Sales with $875,91K

Published

5 hours ago

26 July, 2024

TokenTalk Staff

Solana Monkey Business Leads NFT Sales with $875,91K

Floptober NFT from above

Image: AI-generated via Midjourney

Solana Monkey Business topped CryptoSlam’s non-fungible token (NFT) sales charts on July 22 with $875,914 in total sales.

The collection had 122 unique buyers, equaling the number of sellers, and an average price of $5,308 per NFT.

This increase in daily sales boosted the SMB’s all-time sales volume to a new record of $212.48 million.

The Solana-based ape-themed collection entered the list of the top 30 NFT sellers of all time over the weekend, knocking SATS BRC-20 NFTs off the rankings.

The second best performing collection of the day was gETH Locked Deposit.

This NFT, which represents gETH locked on the Ethereum layer-2 network Arbitrum, saw a daily sales volume of $583,047 from just one transfer.

The asset was brother-in-law just moments before the transfer is made.

In third place, DMarket’s NFTs and in-game virtual items on the Mythos Network saw a total of $565,002 in sales.

The collection attracted 3,254 unique buyers and 2,848 sellers, with an average price of $24.66 per item. Active DMarket owners stood at 5,111, contributing to a total owner count of 397,931.

Outside of the top three, Ethereum’s DogeZuki Collection came in fourth place with $436,787. Bored Ape Yacht Club, another Ethereum collection, had total sales of $341,576 for fifth place.

While a Solana collection led the day’s results, the network’s total NFT sales for the day were slightly outpaced by Ethereum.

Ethereum led all blockchains in sales on Monday with $4.2 million, with Solana close behind at $4.1 million.

Fuente