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Solana NFT market update – Why SOL’s hike to $160 may have done the trick

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Solana NFTs saw improvements in some of its key metrics in the last seven days, but the network remained third in sales volume...

NFTs over the last seven days, particularly within top collections. This uptick in activity indicates growing interest and participation in the Solana NFT ecosystem. While other metrics have also recorded hikes in recent days, metrics such as transaction volume and activity, Solana is still ranked behind major platforms like Bitcoin and Ethereum.volumes over the last seven days, primarily driven by top collections. At the time of writing, the volume was around $28.72 million.

Also, the total floor value of Solana NFTs, according to Solana Floor data, stood at approximately $438 million, at press time.In fact, records indicated a volume exceeding $23 million, trailing behind Ethereum with over $38 million and Bitcoin with over $47 million in sales, respectively.‘s price trend recorded a notable surge on 15 May, with a hike of over 11% on the charts. This propelled it from the $141-price range to surpass $158.

 

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Solana NFT volumes rise: Impact on SOL’s market performanceThe volume of NFTs on Solana surged, exceeding that of both Bitcoin and Ethereum. How will SOL be impacted by this?
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