• Solana Mobile announced a reduction in Saga’s price. 
• SOL’s price chart was green, and indicators were bullish. 

Solana [SOL] has witnessed a massive decline in its NFT ecosystem over the last 30 days. Not only did its sales volume decline, but a triple digit plummet was noted in terms of the number of sellers. However, are there chances of things getting better?

Is your portfolio green? Check out the Solana Profit Calculator  

Solana’s NFT ecosystem has concerns to address

CryptoSlam’s data revealed that Solana’s NFT sales volume plummeted by more than 56% last month. To add to the misery, its number of sellers dropped by a whopping 4131%.

In fact, the blockchain has also witnessed a few popular NFT collections, such as y00ts, migrate to Polygon [MATIC] in the past. Interestingly, y00ts has made a strategic decision to ignore the possibility of a move back to Solana and announced its migration to the Ethereum [ETH] blockchain. 

As evident from Santiment’s chart, the blockchain’s total NFT trade counts and trade volume in USD skyrocketed during May and the following week. However, the good days came to an end as both metrics plummeted over the coming months. 

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Author: Dipayan Mitra

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