- Interest in Solana NFTs surged over the last few weeks.
- Activity on the network declined, but developers showed interest.
Solana’s [SOL] ecosystem has always been able to draw attention to itself through its vibrant NFT collections. However, in the past year, many blue-chip NFTs on the Solana network began to migrate to other protocols.
This caused a noticeable decline in interest in the space.
NFTs make a comeback?
However, over the last few weeks, there has been a resurgence in interest in Solana. This renewed interest helped Solana’s NFT volume to surge, although it has decreased by approximately 50% from the peak observed three days ago.
Moreover, the volume of blue chip NFTs selling Solana also grew during this time frame. Notably, in the last seven days, the price floor of most top Solana projects surged.
This continued interest in Solana’s NFT market, along with the growth in trading of high-value NFTs, contributed to the overall vibrancy of the Solana ecosystem.
The rising price floors of key projects in the past week further demonstrated the resilience and potential for positive developments in Solana’s blockchain network.
These trends could attract more participants, foster innovation, and enhance the long-term sustainability of the Solana ecosystem.
The number of Daily Active Addresses on Solana, however, fell. Coupled with that, the number of Daily Transactions declined. The surge in NFTs could help raise the activity on the network.
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Author: Himalay Patel
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