- SOL's NFT sales exceed $3 million in the past 24 hours
- Ethereum continued to dominate Solana and Polygon in the NFT ecosystem
Solana [SOL] witnessed some traction in the NFT ecosystem last week as several popular collections moved to SOL.
Does this mean Solana's NFT ecosystem is poised to witness further growth in the coming weeks?
Solana outperforms Polygon
The NFT ecosystem boomed last week as sales across multiple chains increased. AMBCrypto examined data from NonFungible and found that the total number of NFT sales increased last week.
During the same period, the total number of unique sellers also increased.
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While the market has grown, Solana has onboarded popular NFT collections such as y00ts and DeGod, which had previously migrated to other chains.
Specifically, y00ts was returned from: polygon [MATIC], While Dedod left Ethereum [ETH]. Including top collections like this has been helpful to SOL's NFT space.
according to Tweet From SolanaFloor, SOL's NFT sales reached $25 million in the past seven days. This number is commendable since Polygon's weekly NFT sales were only $8 million.
Despite this, Ethereum remained the top player, with $48 million in sales that week. crypto slam.
AMBCrypto looked at DappRadar data and found the best performing collections on Solana. y00ts and DeGods both finished in the top five along with Mad Lads, Frogana, and SMB Gen 2.
Source: DappRadar
Is Solana still ahead of Porygon?
To see if Solana continues to dominate Polygon, AMBCrypto checked its performance over the past 24 hours. According to our analysis, Solana continues to outperform Polygon.
Polygon's 24-hour sales were just over $1 million, while SOL's sales reached $3 million.
Source: CryptoSlam
However, what is interesting is that despite high sales volumes, SOL's total transaction value decreased by more than 10%, while Polygon's increased by 17%.
Despite this, both companies were still far behind Ethereum. The king of altcoins' 24-hour sales amount exceeded $6 million, an increase of 17% from the previous day.
The total number of Ethereum buyers, sellers, and transactions all increased by 9.8%, 8.9%, and 12%, respectively, in the past 24 hours.
Source: CryptoSlam
Realistic or not, here it is SOL market capitalization (ETH conversion)
SOL turned bullish
While the blockchain NFT space is thriving, the price trend of its native tokens has also turned bullish.according to coin market capSOL price has increased over 14% in the past 7 days.
In fact, it's up 6% in the last 24 hours alone. As of this writing, SOL is trading at $155.92 and has a market capitalization of over $69.7 billion, making it the fifth largest cryptocurrency.
