How Solana’s NFT market surpassed Ethereum’s – A 30-day snapshot

in the NFT space over the past month. Now, while this seems optimistic at first glance, there might just be more to the story. Let’s have a look at how both of these NFT giants fared against each other.underlining the latest datasets from the NFT ecosystem. According to the same, Solana is now ranked #1 on the list of blockchains in terms of the most NFTs created in the last 30 days. Apart from Solana,Here, what is also worth mentioning is that Ethereum took the 10th spot on the list.

While the aforementioned datasets imply one thing, a look at the bigger picture might imply something different entirely. For instance, AMBCrypto’s analysis of CryptoSlam’srevealed that while Solana’s monthly NFT sales volume was merely $99 million, Ethereum’s sales volume stood at $193 million.While Solana’s performance in the NFT space remained positive, SOL’s price action once again turned bullish. According to, SOL’s price surged by over 2.5% in the last 24 hours.

Thanks to the latest price uptick, the token’s weighted sentiment hiked too. This meant that bullish sentiment around the token was dominant in the market. Additionally, its social volume also appreciated on the charts, highlighting SOL’s popularity.However, this trend might not last as a key derivatives market indicator flashed bearish signals at press time. Coinglass’ data revealed that Solana’s long/short ratio fell over the last 24 hours.

Here, a low ratio is a sign of bearish sentiment, where there is more interest in selling or shorting assets.Dipayan 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.

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Solana NFT market update – Why SOL’s hike to $160 may have done the trickSolana NFTs saw improvements in some of its key metrics in the last seven days, but the network remained third in sales volume...
Fuente: CryptoAmb - 🏆 22. / 68 Leer más »

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?
Fuente: CryptoAmb - 🏆 22. / 68 Leer más »