Solana NFTs revive, beat Polygon: What about Ethereum NFTs?

• Within the final 24 hours, SOL’s NFT gross sales exceeded $3 million 
• Ethereum continued to dominate Solana and Polygon within the NFT ecosystem

Solana [SOL] witnessed some traction in its NFT ecosystem final week as a number of standard collections migrated again to SOL.

Does this imply that Solana’s NFT ecosystem is poised to witness additional development within the coming weeks? 

Solana outperforms Polygon

The NFT ecosystem boomed final week as gross sales throughout a number of chains elevated. AMBCrypto’s have a look at NonFungible’s information revealed that the entire variety of NFT gross sales final week elevated.

The entire variety of distinctive sellers additionally went up throughout the identical time.

NonFungible

Whereas the market grew, Solana onboarded standard NFT collections like y00ts and DeGod, which had migrated to different chains earlier.

To be exact, y00ts returned from Polygon [MATIC], whereas DeDod left Ethereum [ETH]. The inclusion of such high collections helped SOL’s NFT area.

As per a tweet from SolanaFloor, SOL’s NFT gross sales reached $25 million within the final seven days. The quantity was commendable, as Polygon’s weekly NFT gross sales stood at a mere $8 million.

Nonetheless, Ethereum remained the highest participant, as its weekly gross sales quantity was $48 million, as per Cryptoslam.

AMBCrypto’s have a look at DappRadar’s information revealed the top-performing collections on Solana. Each y00ts and DeGods made it to the highest 5, together with Mad Lads, Frogana, and SMB Gen 2. 

Supply: DappRadar

Is Solana nonetheless forward of Polygon?

To see whether or not Solana continued to dominate Polygon, AMBCrypto checked their final 24 hours’ performances. As per our evaluation, Solana continued to outperform Polygon.

Whereas Polygon’s 24-hour gross sales quantity stood at simply over $1 million, SOL’s quantity touched $3 million. 

Supply: CRYPTOSLAM

Nevertheless, it was attention-grabbing to notice that regardless of excessive gross sales quantity, SOL’s whole transactions dipped by greater than 10% whereas Polygon elevated by 17%.

Nonetheless, they have been each nonetheless significantly behind Ethereum. The king of altcoins’ 24-hour gross sales quantity exceeded $6 million, which was a 17% enhance from the day prior to this.

Ethereum’s whole variety of consumers, sellers, and transactions all elevated by 9.8%, 8.9%, and 12%, respectively, prior to now 24 hours.

Supply: CRYPTOSLAM

Reasonable or not, right here’s SOL’s market cap in ETH phrases    

SOL turned bullish

Whereas the blockchain’s NFT area flourished, its native token’s worth motion additionally turned bullish. In line with CoinMarketCap, SOL’s worth elevated by greater than 14% within the final seven days.

In truth, within the final 24 hours alone, it surged by 6%. On the time of writing, SOL was buying and selling at $155.92 with a market capitalization of over $69.7 billion, making it the fifth-largest crypto.