Solana [SOL] outperformed all the blockchain like Ethereum [ETH] in the NFT space in terms of daily users by a huge margin.
The crypto market has remained highly volatile over the last week as several top coins rallied then pulled back. Not only was the market getting traction in terms of crypto prices, the NFT ecosystem was also heated up. While that happened,The NFT market overall witnessed promising growth. This was evident from the rise in its market capitalization. At the time of writing, the NFT market cap stood at $5.94 billion, which was a $1 billion increase compared to the previous week.
Apart from this, CRYPTOSLAM’s data revealed quite a few other positive updates for SOL’s NFT space. For instance, the blockchain’s NFT sales volume surged by 85% last week. The total number of NFT transactions also soared by 11% during the same period.While Solana outshined the rest, Mad Lads and SMB Gen 2 made it to the top three on the list of top SOL NFT collections of the past seven days.
If the decline in flows actually translates into a bullish trend reversal, then investors might witness SOL rallying towards $220, asDipayan is a full-time journalist at AMBCrypto. He has 2 years of experience in the content creation industry. A graduate in journalism, Dipayan has a keen interest in keeping himself updated with the latest developments in the crypto-space. He is a singer and a guitarist who also enjoys going on long bike rides.Subscribe to get it daily in your inbox.
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