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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
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  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    Cloudflare Accuses Perplexity AI of Using Stealth Crawlers to Evade Website Blocks

    CryptoPunks and Pudgy Penguins Draw Major Sales

    CryptoPunks and Pudgy Penguins Draw Major Sales

    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    Ethereum Collections Lead NFT Sales Today

    Ethereum Collections Lead NFT Sales Today

    how NFTs became a global brand and a Web3 “social currency”

    how NFTs became a global brand and a Web3 “social currency”

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Labubus have succeeded in every way that NFTs have failed

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    VitaminAi and WildGo Partner to Unveil Web3 Pinball Game

    Animoca Brands Partnership Unveils Revolutionary Web3 Gaming Future

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    Shrapnel to Leave Avalanche in New Partnership with Gala Games

    Shrapnel to Leave Avalanche in New Partnership with Gala Games

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    Google to Pit Top AI Models Against Each Other in Live Chess Tournament

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    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

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    The Biggest Games Releasing in August 2025

    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    What Is Crypto Arbitrage and How to Use It in Trading?

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  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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Home Altcoins

Will Solana NFTs propel SOL ahead?

January 25, 2024
in Altcoins
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Will Solana NFTs propel SOL ahead?
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  • Solana’s NFT volumes witnessed an uptick, driven by blue-chip collections.
  • Magic Eden’s new development could incentivize Solana’s growth.

Solana [SOL] witnessed a massive amount of growth over the last few months due to the popularity of meme coins and DEXes on its network. However, recently it was seen that NFTs were driving growth on Solana.

Blue chips lead the way

The Blue Chip Solana NFT index witnessed a massive surge in volume over the last 24 hours. According to Solanafloor, the volume of Solana NFTs grew by 27% in the last week.

READ ALSO

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Some famous NFT collections that spearheaded the growth included MadLads, Tensorians, and Solana Monkey Business.


Source: Solanafloor

However, the total floor value of these collections continued to decline. This suggested that many addresses capitalized on the decline in prices of Solana NFTs and bought these collections at a discount.


Source: Solanafloor

The activity on the Solana network grew materially as well. Recent data indicated that revenue generated by Solana in the last 30 days grew by 140.2%.

Despite these factors, the overall activity on Solana declined. According to Token Terminal’s data, the daily active users on the Solana network fell by 16.6% in the last month.


Source: Token Terminal

New developments

However, things could change for the Solana network, going forward.

Magic Eden, one of the most popular NFT marketplaces in the crypto sector, recently announced that it would be building a reward program that would be starting on the Solana network.

See also  Shiba Inu Price Can’t Reach $0.01, Crypto Pundit Reveals Why

Not only will users flock to the Magic Eden marketplace, but this in turn will help Solana see a surge in activity on its network.

It would incentivize users to buy more NFT collections on the Solana network as well, further improving the state of the Solana ecosystem.


How much are 1,10,100 SOLs worth today?


At press time, SOL was trading at $87.62, and its price had risen by a massive 9.11% in the last 24 hours.

Even though the token witnessed a sudden spike in interest, the price uptick still wasn’t enough for a reversal. However, if the trend continues, there may be a chance for a bullish future.


Source: Santiment

Tags: AheadNFTsPropelSOLSolana

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Institution offloads $23.5 mln of Ethereum, But bullish signs persist

September 11, 2024
Funding Round Raises $3.5 Million for Cross The Ages Expansion

Funding Round Raises $3.5 Million for Cross The Ages Expansion

May 16, 2024

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