Solana NFTs’ potential looks promising, but what is in store for SOL?

Solana NFT staples declined over the last 30 days and so did the count of daily active users. SOL, however, managed to perform well both on the price and metrics front. A Twitter handle by the name Solana Legend recently posted a tweet that talked about the potential and capabilities of Solana’s [SOL] NFT ecosystem. […]

A thread 🧵 on why Solana iterates faster than Ethereum and will drive a lot of native innovation and surpass the ETH NFT marketNot only in terms of pricing, but Solana was also ahead of Ethereum in terms of transaction count. Though the NFT sales value remained higher for Ethereum, the average number of transactions per wallet was up to 10 times higher on Solana.Despite Solana’s capabilities, things did not work in its favor on the ground.

Furthermore, CRYPTOSLAM’s data revealed that Solana’s sales volume declined by more than 57% in the last seven days. Moreover, the number of unique buyers and sellers has also registered a fall since January 2023.also complemented that of CRYPTOSLAM, as it revealed that Solana NFT marketplace’s daily active users registered a decline over the past few weeks.

However, Santiment’s chart looked optimistic for the network as it displayed growth in the total number of NFT trade counts and trade volume in USD over the last week.was noted in the network’s DeFi space as its TVL increased.

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