Solana NFTs Outpace Ethereum in Trading Volume
Solana (SOL) continues to gain momentum, with its non-fungible tokens (NFTs) seeing higher trading volume than Ethereum.
Projects like Mad Lads and Tensorians have experienced significant price increases recently.
The trading volume of Solana NFTs has now surpassed that of Ethereum, which is known for its high trading volume and valuable projects.
In the past 24 hours, Solana NFTs generated $14.8 million in trades, compared to approximately $13.9 million on Ethereum.
This surge represents a growth of about 92% in the past day.
Tensorians, associated with the Tensor NFT marketplace, leads the way with over $4 million in sales during this period.
Tensor currently dominates the Solana ecosystem with nearly 76% market share in the past 24 hours.
Magic Eden, a multi-chain marketplace, now holds about 16% market share.
SOL Extends Gains as Market Rally Continues
Solana’s native cryptocurrency SOL has seen significant gains recently, and its leading meme coin BONK reached new all-time highs.
SOL reached a new 19-month peak of $73.85 on Friday.
Although it is still far from its all-time high of nearly $260 in November 2021, SOL has made a remarkable recovery from its low of around $8 in late 2022.
Currently trading above $73, SOL has recorded a 13% surge in the past 24 hours.
BONK, the leading meme coin on the Solana network, set a new all-time high price of $0.00001314 on Friday.
Even with a slight dip to $0.00001283, BONK has registered a 10% gain in the past 24 hours and tripled in value over the last seven days.
In the past month alone, BONK has skyrocketed by an astounding 982% and now has a total market cap of $747 million.
Recipients of the Jito airdrop on the Solana DeFi platform are also benefiting, with the JTO token surging by 72% in the past day.
Jupiter, a decentralized exchange aggregator on the Solana blockchain, recently announced the opening of initial claims for its JUP token airdrop.
The airdrop aims to distribute 40% of the total JUP token supply.
Hot Take: Solana NFTs Gain Traction, Surpass Ethereum
Solana’s non-fungible tokens (NFTs) have gained significant traction, surpassing Ethereum in trading volume. Projects like Mad Lads and Tensorians have seen substantial price increases, contributing to Solana’s trading volume growth of about 92% in just one day. The leading NFT project on Solana, Tensorians, has generated over $4 million in sales. Additionally, SOL, Solana’s native cryptocurrency, has experienced significant gains and its meme coin BONK has reached new all-time highs. This surge in popularity is a testament to Solana’s growing ecosystem and its ability to compete with established blockchain platforms like Ethereum. As Solana continues to gain momentum, it will be interesting to see how it further disrupts the NFT and cryptocurrency markets.
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