Solana beats Bitcoin, Ethereum on THIS front: Will SOL also rise?

  • SOL’s month-to-month NFT transactions have been a lot larger than Bitcoin, Ethereum. 
  • ETH’s weekly gross sales quantity elevated, whereas SOL and BTC dropped. 

Solana [SOL] continued to dominate the NFT ecosystem final month, adopted by stalwarts like Bitcoin [BTC] and Ethereum [ETH].

Let’s dive deep into these blockchains’ performances within the NFT house to raised perceive who is definitely main the market. 

Solana takes the cake 

Coin98 Analytics lately posted a tweet highlighting the performances of a number of blockchains within the NFT house.

As per the tweet, SOL was the market chief final month by way of the whole variety of distinctive merchants, as its quantity touched 308okay.

Solana was adopted by Bitcoin and Ethereum, which had 129okay and 74okay distinctive merchants, respectively. Polygon [MATIC] and Aptos [APT] accomplished the also made it to the highest three of the identical record.

Solana also outshines the remaining with a whopping 5.2 million month-to-month NFT transactions. On the opposite hand, BTC and ETH’s numbers stood at 550okay and 437okay, respectively.

AMBCrypto’s take a look at DappRadar’s data revealed that STEPN, Mad Lads, and Famous Fox Federation have been the highest 3 NFT collections on Solana within the final 30 days.

NodeMonkes, Bitcoin Puppets, and RuneStone have been the highest three BTC collections.

Meanwhile, Bored Ape Yacht Club, Milady Maker, and Mutant Ape Yacht Club sat within the high three positions on the Ethereum blockchain.

It was fascinating to notice that regardless of topping the chart, Solana’s month-to-month NFT gross sales quantity dropped by greater than 40%. AMBCrypto reported earlier how BTC outshines ETH by way of month-to-month NFT gross sales.

However, an identical decline development was also famous on BTC and ETH’s NFT gross sales quantity, as they fell by 62% and 52%, respectively.

Nonetheless, SOL’s variety of patrons and sellers elevated by double digits, reflecting excessive exercise. 

Solana's number of sellers and buyers increased


Things modified up to now seven days by way of progress as ETH outperformed the remaining. CRYPTOSLAM’s information revealed that ETH’s NFT gross sales quantity elevated by 17% final week.

In the meantime, SOL and BTC’s numbers dropped by 18% and 37%, respectively. Notably, ETH also had the best gross sales quantity of over $40 million, whereas SOL’s quantity was the bottom because it stood at $14 million. 


SOL, BTC, and ETH’s state

While the NFT market witnessed a change in development final week, all of the cryptos’ costs turned bullish.

On one hand, BTC and ETH’s costs dropped by 4.4% and 3.4%, respectively, and on the opposite hand, SOL dropped by almost 10%. At the time of writing, BTC was buying and selling beneath $67okay.

As per CoinMarketCap, at press time, ETH and SOL have been buying and selling at $3,558 and $144, respectively. 

Read Ethereum’s [ETH] Price Prediction 2024-25 

The bearish worth actions also took a toll on these cryptos’ social metrics.

AMBCrypto’s evaluation of Santiment’s information revealed that SOL, BTC, and ETH’s Weighted Sentiments dropped, that means that bearish sentiment round them was dominant available in the market. 

SOL, BTC, and ETH's weighted sentiments droppedSOL, BTC, and ETH's weighted sentiments dropped

Source: Santiment

Next: Cardano’s troubling future outlook: Will ADA plunge to $0.38?

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