NFTs
Solana NFTs revive, win Polygon: What about Ethereum NFTs?
- In the last 24 hours, SOL NFT sales exceeded $3 million
- Ethereum continued to dominate Solana and Polygon in the NFT ecosystem
Solana [SOL] witnessed some traction in its NFT ecosystem last week when some popular collections migrated back to SOL.
Does this mean that Solana’s NFT ecosystem is poised to witness further growth in the coming weeks?
Solana surpasses the polygon
The NFT ecosystem boomed last week as sales across multiple networks increased. AMBCrypto’s analysis of NonFungible data revealed that the total number of NFT sales increased last week.
The total number of unique sellers also increased over the same period.
Non-Fungible
As the market grew, Solana incorporated popular NFT collections like y00ts and DeGod, which had previously migrated to other networks.
To be more precise, y00ts returned from Polygon [MATIC], while DeDod left Ethereum [ETH]. The inclusion of these important collections has helped SOL’s NFT space.
According to a tweet from SolanaFloor, SOL NFT sales reached $25 million in the last seven days. The number was commendable, as Polygon’s weekly NFT sales stood at just $8 million.
However, Ethereum remained the main player as its weekly sales volume was $48 million, as per Cryptoslam.
AMBCrypto’s analysis of DappRadar data revealed the best-performing collections on Solana. Both y00ts and DeGods made it into 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 the performance of the last 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 number reached $3 million.
Source: CRYPTOSLAM
However, it was interesting to note that despite the high sales volume, SOL’s total transactions fell by more than 10%, while Polygon increased by 17%.
However, both were still considerably behind Ethereum. The altcoin king’s 24-hour sales volume exceeded $6 million, which represented a 17% increase from the previous day.
The total number of Ethereum buyers, sellers and transactions increased by 9.8%, 8.9% and 12% respectively in the last 24 hours.
Source: CRYPTOSLAM
Realistic or not, here it is SOL market value in terms of ETH
SOL was optimistic
While 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 increased by 6%. At the time of writing, SOL is trading at $155.92 with a market capitalization of over $69.7 billion, making it the fifth largest cryptocurrency.