Solana ready to dethrone Ethereum? – The NFT blockchain Solana continue to attract audiences despite a difficult, even inert market. Better yet, here they beat one new record of the number mints one day. Despite some malfunctions, low transaction costs have convinced users of mints and NFT exchanges. The bet of NFT enthusiasts betting on Solana is therefore successful.
Explosive record: 313,380 NFT struck in 24 hours
On Saturday, September 7, the Solana blockchain registered its greater performance in terms of daily minted NFTs. It’s in total 313 380 mints that are included in 24 hourswithout forgetting trading volumes bordering on that of the Ethereum blockchain.
When all eyes seemed to be on the fusion and the opportunities it could present, well-advised portfolios favored speculation provided by Sam Bankman Fried on Solana. The cause of this staggering increase in mints? mainly the “Yoot” collection that many expected, but also just a collective enthusiasm.
At all times, the trading volume of NFT on the Solana blockchain has been good below those of its competitors. Honestly, the ” contest “ was mainly done between 3 chains: Ethereum, Solana and Ronin.
Ever since, Ronin, the blockchain dedicated to the game Axie Infinity, lost its luster due to the bad news that the earning game was piling up. She has finally found herself on the key. This leaves Solana who can be described as: challenger. Anyway, Ethereum stay clear unbeatable for its NFT trading volumes.
>> Doubting between Solana and Ethereum? Both will earn you 8% on FTX (commercial link) <
Solana defends well despite bear market
Despite the bear market hitting the NFT market particularly hard, the number of trades and mints is up Solana demonstrates a strong resilience. Indeed, compared to his peak, Solana scored a to shrink of its volumes of about 50%. The Ethereum network displays volumes not divided by 2, but by 20.
Of course, this comparison remains relative due to the astronomical volumes that Vitalik Buterin’s network was able to capture. However, the finding is quite brilliant for Solana.
According to the words of Zhuoxun “Z” Yinthe co-founder of the marketplace Magic Eden, the facts show that Solana is not a second-rate choice. The ecosystem is robust:
“I think people are realizing that Solana is still quite liquid as an NFT market, despite the bear market. (…) [Cela] went pretty well resulting in another wave of mints/trades. »
It is also important to mention that the overall quality of NFT Solana projects tends to improve. Obviously it wasn’t really a test to do better with the quality of the collections. But in hard times, customer base becomes inevitable more demanding. It is (almost) no longer satisfied with horrible and useless NFTs.
Despite the technical difficulties, the blockchain ignores criticism and attracted undeniably a big audience. One thing leads to another, the competition between the different NFT marketplaces and the bear market manifestation have increased the quality of projects somewhat. Linked to almost insignificant transaction costs, the phenomenon creates the recipe for a collective interest. A few failures are not so much an obstacle in conquering the NFT market.
The SOL is still far from the ceiling, but the ecosystem is resisting! Register without delay on the FTX reference platform. In addition, you will benefit from a return of up to 8% on all your crypto assets (commercial link, see conditions on official website).