{"id":293061,"date":"2023-02-24T16:00:08","date_gmt":"2023-02-24T10:30:08","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=293061"},"modified":"2023-02-24T12:06:55","modified_gmt":"2023-02-24T06:36:55","slug":"solana-nft-ecosystem-declines-while-sol-struggles-more-inside","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/solana-nft-ecosystem-declines-while-sol-struggles-more-inside\/","title":{"rendered":"Solana: NFT ecosystem declines while SOL struggles, more inside"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">Solana ranked second on the list of blockchain by total NFT sales volume.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">SOL\u2019s reaction was negative and so was its performance on the metrics front.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Solana&#8217;s [SOL]<\/span><span style=\"font-weight: 400;\"> Non-fungible Token [NFT] ecosystem flashed concerning signals over the last week as it registered a decline. According to<\/span> <a href=\"https:\/\/dune.com\/sealaunch\/Solana-Transactions\"><span style=\"font-weight: 400;\">Dune Analytics<\/span><\/a><span style=\"font-weight: 400;\">, Solana NFT Marketplace\u2019s daily active users have been on a constant decline since the first week of February. The same trend was shown in Santiment\u2019s chart as Solana\u2019s total NFT trade count and trade volume declined in the last 30 days.\u00a0<\/span><\/p>\n<figure id=\"attachment_293062\" aria-describedby=\"caption-attachment-293062\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Solana-SOL-10.02.14-24-Feb-2023.png\"><img decoding=\"async\" class=\"size-full wp-image-293062\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Solana-SOL-10.02.14-24-Feb-2023.png\" alt=\"\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Solana-SOL-10.02.14-24-Feb-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Solana-SOL-10.02.14-24-Feb-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Solana-SOL-10.02.14-24-Feb-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Solana-SOL-10.02.14-24-Feb-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Solana-SOL-10.02.14-24-Feb-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Solana-SOL-10.02.14-24-Feb-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-293062\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Read <\/span><a href=\"http:\/\/ambcrypto.com\/predictions\/solana-price-prediction\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Solana\u2019s [SOL] Price Prediction<\/span><\/a><span style=\"font-weight: 400;\"> 2023-24<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Interestingly, despite registering a decline, Solana remained just behind Ethereum [ETH] in the list of the top blockchains in terms of NFT sales in the last 30 days, with a sales volume of $97 million.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Top 10 Blockchains by NFT Sales Volume Last 30D \ud83d\ude80<\/p>\n<p>\ud83e\udd47 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> <a href=\"https:\/\/twitter.com\/ethereum?ref_src=twsrc%5Etfw\">@ethereum<\/a><br \/>\ud83e\udd48 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SOL<\/a> <a href=\"https:\/\/twitter.com\/solana?ref_src=twsrc%5Etfw\">@solana<\/a><br \/>\ud83e\udd49 <a href=\"https:\/\/twitter.com\/search?q=%24MATIC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$MATIC<\/a> <a href=\"https:\/\/twitter.com\/Polygon?ref_src=twsrc%5Etfw\">@polygon<\/a><a href=\"https:\/\/twitter.com\/search?q=%24IMX&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$IMX<\/a> <a href=\"https:\/\/twitter.com\/Immutable?ref_src=twsrc%5Etfw\">@Immutable<\/a><a href=\"https:\/\/twitter.com\/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ADA<\/a> <a href=\"https:\/\/twitter.com\/Cardano?ref_src=twsrc%5Etfw\">@Cardano<\/a><a href=\"https:\/\/twitter.com\/search?q=%24FLOW&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$FLOW<\/a> <a href=\"https:\/\/twitter.com\/flow_blockchain?ref_src=twsrc%5Etfw\">@flow_blockchain<\/a><a href=\"https:\/\/twitter.com\/search?q=%24BNB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BNB<\/a> <a href=\"https:\/\/twitter.com\/binance?ref_src=twsrc%5Etfw\">@binance<\/a><a href=\"https:\/\/twitter.com\/arbitrum?ref_src=twsrc%5Etfw\">@Arbitrum<\/a><a href=\"https:\/\/twitter.com\/search?q=%24RON&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$RON<\/a> <a href=\"https:\/\/twitter.com\/Ronin_Network?ref_src=twsrc%5Etfw\">@Ronin_Network<\/a><a href=\"https:\/\/twitter.com\/search?q=%24WAXP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$WAXP<\/a> <a href=\"https:\/\/twitter.com\/WAX_io?ref_src=twsrc%5Etfw\">@WAX_io<\/a><a href=\"https:\/\/twitter.com\/cryptoslamio?ref_src=twsrc%5Etfw\">@cryptoslamio<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Solana?src=hash&amp;ref_src=twsrc%5Etfw\">#Solana<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SOL<\/a> <a href=\"https:\/\/t.co\/ixqKCMREbf\">pic.twitter.com\/ixqKCMREbf<\/a><\/p>\n<p>&mdash; Solana Daily (@solana_daily) <a href=\"https:\/\/twitter.com\/solana_daily\/status\/1628484778034069505?ref_src=twsrc%5Etfw\">February 22, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">However, in a spot of good news, Solana Mobile announced that it would soon launch a new application that has the potential to fuel the<\/span> <a href=\"http:\/\/ambcrypto.com\/solana-sol-cuts-into-last-weeks-gains-retests-50-fib-level\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Solana<\/span><\/a><span style=\"font-weight: 400;\"> NFT ecosystem\u2019s growth. Solana Mobile launched Minty Fresh, an NFT minting app that allows anyone to seamlessly mint NFTs from their Saga.\u00a0<\/span><\/p>\n<h3><strong>SOL is not responding though\u00a0<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">While the aforementioned update gave hope for growth in the NFT space, SOL, however, did not respond to it. According to<\/span> <a href=\"https:\/\/coinmarketcap.com\/currencies\/solana\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\">, SOL registered a price decline of over 2.8% in the last 24 hours, and at the time of writing, it was trading at $23.78 with a market capitalization of $8.9 billion.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Is your portfolio green? Check the<\/span> <a href=\"http:\/\/ambcrypto.com\/calculator\/solana-profit-calculator\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Solana Profit Calculator<\/span><\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">A look at<\/span> <a href=\"http:\/\/ambcrypto.com\/solana-spaces-to-shut-down-nyc-and-miami-stores\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">SOL<\/span><\/a><span style=\"font-weight: 400;\">\u2019s on-chain metrics gave even more reasons for concern. For instance, SOL\u2019s Binance and DyDx funding rates declined in the last few days, suggesting less demand from the derivatives market. SOL\u2019s development activity also went down over the past week, which was a negative signal for the network. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Not only that, but<\/span> <a href=\"http:\/\/ambcrypto.com\/solanas-helium-balloon-in-danger-of-popping-as-collab-attracts-attention\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">SOL<\/span><\/a><span style=\"font-weight: 400;\">\u2019s weighted sentiment remained consistently negative, reflecting the investors&#8217; lack of confidence.\u00a0<\/span><\/p>\n<figure id=\"attachment_293063\" aria-describedby=\"caption-attachment-293063\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Solana-SOL-10.56.23-24-Feb-2023.png\"><img decoding=\"async\" class=\"size-full wp-image-293063\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Solana-SOL-10.56.23-24-Feb-2023.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Solana-SOL-10.56.23-24-Feb-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Solana-SOL-10.56.23-24-Feb-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Solana-SOL-10.56.23-24-Feb-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Solana-SOL-10.56.23-24-Feb-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Solana-SOL-10.56.23-24-Feb-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/Solana-SOL-10.56.23-24-Feb-2023-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-293063\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Solana ranked second on the list of blockchain by total NFT sales volume. SOL\u2019s reaction was negative and so was its performance on the metrics front. Solana&#8217;s [SOL] Non-fungible Token [NFT] ecosystem flashed concerning signals over the last week as it registered a decline. According to Dune Analytics, Solana NFT Marketplace\u2019s daily active users have<a href=\"https:\/\/ambcrypto.com\/solana-nft-ecosystem-declines-while-sol-struggles-more-inside\/\">Continue reading <span class=\"sr-only\">&#8220;Solana: NFT ecosystem declines while SOL struggles, more inside&#8221;<\/span><\/a><\/p>\n","protected":false},"author":70,"featured_media":293064,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4029,4,20],"tags":[],"class_list":["post-293061","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-nft","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Solana: NFT ecosystem declines while SOL struggles, more inside - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Solana&#039;s [SOL] traffic in the NFT ecosystem looked pretty concerning as it registered a decline over the past few weeks.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/solana-nft-ecosystem-declines-while-sol-struggles-more-inside\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Solana: NFT ecosystem declines while SOL struggles, more inside - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Solana ranked second on the list of blockchain by total NFT sales volume. SOL\u2019s reaction was negative and so was its performance on the metrics front.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/solana-nft-ecosystem-declines-while-sol-struggles-more-inside\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-24T10:30:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/02\/SOL-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Saman Waris\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/SamanWaris11\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Saman Waris\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/solana-nft-ecosystem-declines-while-sol-struggles-more-inside\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/solana-nft-ecosystem-declines-while-sol-struggles-more-inside\\\/\"},\"author\":{\"name\":\"Saman Waris\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/ad73a5a061fcfc27548aa27112d8b9d8\"},\"headline\":\"Solana: NFT ecosystem declines while SOL struggles, more inside\",\"datePublished\":\"2023-02-24T10:30:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/solana-nft-ecosystem-declines-while-sol-struggles-more-inside\\\/\"},\"wordCount\":350,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/solana-nft-ecosystem-declines-while-sol-struggles-more-inside\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/SOL-1.jpg\",\"articleSection\":[\"Altcoin\",\"News\",\"News 1\",\"NFT\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/solana-nft-ecosystem-declines-while-sol-struggles-more-inside\\\/#respond\"]}],\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/solana-nft-ecosystem-declines-while-sol-struggles-more-inside\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/solana-nft-ecosystem-declines-while-sol-struggles-more-inside\\\/\",\"name\":\"Solana: NFT ecosystem declines while SOL struggles, more inside - 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