Solana (SOL) Gains Ground Over Ethereum (ETH) In The NFT Market

Solana (SOL)

✍️ 3 October, 2022 - 5:51 👤 Editor: Jakub Motyka

Although the NFT market is in the doldrums, there is a cryptocurrency that is making its way over Ethereum (ETH) as the most popular alternative at the moment of dealing with digital art assets. It is Solana (SOL).

The volume of NFTs traded with Solana (SOL) has registered a significant increase in recent weeks, while the NFTs that are minted on the blockchain network of Ethereum continue to fall, despite the latest update The Merge of Ether.

NFT Trading Volume On Solana (SOL) Network Has Grown From 7% To 24% In Recent Weeks

The volume of NFTs executed on the Solana blockchain (SOL) has increased from 7 to 24% in the last 6 weeks, as reflected in the profile of @Delphi_Digital on Twitter. This represents a significant increase in NFTs minted on the Solana network, which have gone from just over 150,000 to almost 400,000 NFTs minted in one day on the Solana blockchain during the previous month of September.

Among the causes of this increase in operations on Solana (SOL) in the NFT market is the fact that buying and selling NFTs on Ethereum is still very expensive. The update The Merge of Ethereum has not solved the problems of gas fees of its blockchain network, with which alternatives such as Solana have many possibilities of unseat the main altcoin in this type of operation.

The Price Of Solana (SOL) Today Remains Stable After Registering This Month A Maximum Of $38.87

The Solana (SOL) price today, speaking of the cryptocurrency of this project, remains stable at $32.32 at the time of writing. Although its price has fallen by 1.59% in the last 24 hours, it should be remembered that in the last month the price of SOL has reached a maximum of $38.87.

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