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Could NFTs on Solana Drive SOL's Growth?

NFTs Alight New Path for Solana

A new light is being cast on the path of Solana, as non-fungible tokens (NFTs) alight upon which the blockchain performs. In front of NFT collectors' eyes plays out an interesting rhythm from serious narrative.

With meme coins and decentralised exchanges buoying in the past, Solana has now found its new tempo across the evident NFT realm. This shift apart with these metrics can be seen over other indicators as well, like Blue Chip Solana NFT index, assaying the premium digital collectibles. Data from Solanafloor unveils a 27% uptick in NFT volume over a week, painting a picture of vibrant activity.

Collections and Contradictions

Heading the spectacle are MadLads, Tensorians alongside Solana Monkey Business. Yet, beneath the surface of volume growth lies a paradox. The overall floor value, a measure of the least inexpensive piece in a collection, is on a downtrend. This depicts a market phenomenon where investors are bagging NFTs at lower prices, which is the rational and reasonable approach into the volatile digital asset domain.

Network Dynamics – Mixed Bag

On the other hand, checking Solana's network activity paints another intriguing picture. A 140.2% increase in its one-month engagement seems to be showing strong activity level. But here's what seemed to be the plot twist on this simple narrative of growth: daily active users fell by 16.6% within a month for Solana. And simplicity didn't exactly pan out.

On the Horizon: A Spark of Innovation

Add to a mix of optimistic sentiment, innovation is on the horizon. A big NFT marketplace player, Magic Eden, shares they are developing a reward program built in the Solana network. That move isn't just a nod to Solana's potential, but is also potentially a strategic play that could reignite network activity. The incentive of rewards might not only draw in users of Magic Eden but also spike Solana's network engagement along with NFT activity on its blockchain.

More news about nft sol

  • Jun 04, 2024 12:46 am
    Slerf: More than 30,000 SOLs have been refunded, and about 23,700 SOLs are to be refunded
    Slerf updated the SLERF pre-sale refund on the X platform, saying that 30,125 SOLs have been distributed to pre-sellers, and 23,700 SOLs are left to be refunded. More than 27,000 wallets have been refunded, and less than 800 are pending. Slerf said that he expects to reach a 100% refund rate in the next few weeks.
  • May 04, 2024 2:00 am
    ソラナ(SOL)の150ドル違反はSOLの方向性を変えるかもしれない
    Solana(SOL)の価格は、アルトコインを回復ラリーに突入させる可能性のある強気の反転パターンから抜け出す瀬戸際にある。 これは、広範な市場の手がかりがボラティリティを低く保ち、投資家がSOLの現在の価値に反応した場合にのみ可能である。 Solanaは成長する可能性がある 現在139ドルで取引されているSolanaの価格は下降ウェッジを形成しており、まもなくブレイクする可能性がある。この観測は、値動きの速度と変化を測る相対力指数(RSI)で裏付けられる。 RSIと並んで、トレンドの強さと資産価格の反転の可能性を示す移動平均収束ダイバージェンス(MACD)も強気を示している。 両指標とも上昇を示唆しており、RSIは中立ラインの50.0を上回り強気ゾーンにある。また、MACDも強気のクロスオーバーを維持しており、SOLがウェッ... source: https://jp.beincrypto.com/sol-could-change-course/
  • May 04, 2024 2:00 am
    솔라나 (SOL) $ 150 돌파로 SOL의 진로가 바뀔 수 있습니다.
    솔라나(SOL) 가격은 강세 반전 패턴에서 벗어나 회복 랠리를 시작할 수 있는 상승 반전 패턴을 앞두고 있습니다. 이는 광범위한 시장 신호가 변동성을 낮게 유지하고 투자자들이 SOL의 현재 가치에 반응할 때만 가능합니다. 솔라나의 성장 가능성 현재 139달러에 거래되고 있는 솔라나의 가격은 곧 깨질 수 있는 하강 쐐기를 형성하고 있습니다. 이러한 관측은 가격 움직임의 속도와 변화를 측정하는 상대강도지수(RSI)에서 뒷받침됩니다. RSI와 함께 자산 가격의 추세 강도와 잠재적 반전을 나타내는 이동평균 수렴 다이버전스(MACD)도 강세를 나타냅니다. 두 지표 모두 중립선인 50.0을 상회하는 강세 영역에서 RSI가 상승을 암시하고 있습니다. 동시에... source: https://kr.beincrypto.com/base-news/55826/
  • Apr 26, 2024 8:25 am
    판테라 캐피털, FTX 보유 SOL 경매서 낙찰...2000 SOL 획득
    암호화폐 헤지펀드 판테라 캐피털(Pantera Capital)이 FTX 보유 SOL 일부를 경매에서 낙찰받았다고 블룸버그가 소식통을 인용해 전했다. 총 2000 SOL을 획득했으며 낙찰가는 60달러 이상인 것으로 전해졌다. 앞으로 또 다른 경매가 진행될 예정이라고 소식통은 말했다. 현재 FTX가 보유 중인 4100만 SOL은 락업된 상태여서 4년에 걸쳐 점진적으로 판매될 것으로 보인다. 앞서 FTX는 보유 중인 SOL 중 3분의 2(2500만~3000만 SOL)를 개당 64달러에 갤럭시 트레이딩, 판테라 캐피털 등에 매각한 바 있다.
  • Apr 11, 2024 11:36 am
    Solana Chain Minting 100,000 NFTs Only Costs 0.8 SOL
    Austin Federa, head of strategy at the Solana Foundation, posted on the X platform that it costs 0.8 SOL (about $140) to mint 100,000 NFTs on Solana.
  • Apr 10, 2024 8:19 pm
    SLERF founder releases a tweet to collect SOL addresses, and may launch related NFT projects
    The founder of the meme project SLERF posted a tweet on the X platform to collect SOL addresses. The tweets were tagged with SLERF and SolanaNFTs, and related NFT projects may be launched. Odaily reminds users to pay attention to asset security and carefully choose investment targets.
  • Nov 09, 2023 8:51 am
    The FTX address once again transferred 250,000 SOL to Binance and still holds 1 million SOL.
    According to Paidun monitoring, FTX-related addresses once again transferred 250,000 SOL (worth approximately US$10.9 million) to Binance. The current FTX address also holds approximately 1 million SOL (worth $43.4 million).
  • Nov 03, 2023 2:28 pm
    FTX Cold Wallet Transfers 300,000 SOL; Retains 971.16 SOL
    PeckleShieldAlert monitoring recently reported a significant SOL transfer involving the FTX exchange. An address labeled "FTX Cold Storage #2" transferred approximately 300,000 SOL, roughly worth $11.48 million, to an address that begins with "4Axqyo". This transaction took place just four hours ago.Post-transaction, the "FTX Cold Storage #2" address still possesses 971.16 SOL, equivalent to approximately $37,923.79.     
  • Nov 03, 2023 2:27 pm
    FTX cold wallet transferred 300,000 SOL 4 hours ago and still holds 971.16 SOL
    According to Paidun monitoring, the address marked "FTX Cold Storage #2" 4 hours ago once again transferred 300,000 SOL (approximately $11.48 million) to the address starting with 4Axqyo. The "FTX Cold Storage #2" address still holds 971.16 SOL (approximately $37,923.79).
  • Sep 15, 2023 10:37 am
    NFT marketplace Magic Eden now supports .sol domain names
    Odaily Planet Daily News NFT market Magic Eden posted on the X platform that it now supports .sol domain names, allowing users to connect their digital identities.

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