NFT: Solana accumulates records and distances the competition

Does Solana want to dethrone Ethereum? – The NFT blockchain Solana continue to attract audiences despite a difficult and even inert market. Better yet, here they beat a new record of the number of mints in a day. Despite some malfunctions, the low transaction costs have lured users towards ticks and NFT exchanges. The bet of NFT enthusiasts who bet on Solana is therefore a winner.

Explosives Record: 313,380 NFT minted in 24 hours

On Saturday 7 September, the Solana blockchain registered its higher performance in terms of NFT minted daily. It is in total 313 380 mints in which they were recorded 24 hourswithout forgetting the trading volumes on the border with those of the Ethereum blockchain.

Volume of NFT minted on Solana – Source: The Block

When all eyes seemed to be on The merger and the opportunities it could offer, well advised portfolios fostered the speculation provided by Sam Bankman-Fried about Solana. The cause of this dazzling increase in ticks? Mainly the “Yoot” collection. that many expected, but also simply a collective enthusiasm.

At all times, the trading volume of NFT on the Solana blockchain went well under that of those competitors. Actually, the ” competition “ it was mainly done between 3 chains: Ethereum, Solana and Ronin.

From, Ronin, the blockchain dedicated to the game Axie Infinity, has lost its luster due to the bad news accumulated from its play-to-earn. She eventually found herself on the key. This leaves Solana who can be described as challenger. However, Ethereum obviously remains unbeatable for its NFT trading volumes.

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Solana defends well, despite the bear market

However, despite the bear market having hit the NFT market particularly hard, the amount of trading and ticks continues Solana demonstrates a strong resilience. Indeed, compared to its peak, Solana recorded a diminish of its volumes of approx 50%. The Ethereum network shows the 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 discovery is quite brilliant for Solana.

Found confidence?

According to the words of Zhuoxun “Z” Yinthe co-founder of the market Magic Eden, the facts show that Solana is not a second-class choice. Her ecosystem is robust:

“I think people are realizing that Solana is still quite liquid as an NFT market, despite the bear market. (…) [Cela] it went pretty well, sparking a new wave of mints / trades. “

It is also important to remember the fact that the overall quality of Solana it tends to improve. It is obvious that doing better in terms of the quality of the collections was not exactly a test. But in difficult times, the customer base inevitably becomes more demanding. He is (almost) no happier with horrible and useless NFTs.

Despite the technical difficulties, the blockchain ignores the criticisms and attracted undeniably a great audience. One thing led to another, the competition between its various NFT markets and the manifestation of the bear market slightly raised the quality of the projects. Coupled with almost insignificant transaction costs, the phenomenon creates the recipe for a collective interest. Some failures are not so much an obstacle to conquering the NFT market.

The SOL is still far from the ceiling but its ecosystem resists! 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 (trade link, see conditions on the official website).

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