{"id":406955,"date":"2024-07-15T09:30:54","date_gmt":"2024-07-15T04:00:54","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=406955"},"modified":"2024-07-14T18:00:26","modified_gmt":"2024-07-14T12:30:26","slug":"how-solana-flipped-ethereum-bitcoin-in-nft-adoption","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/how-solana-flipped-ethereum-bitcoin-in-nft-adoption\/","title":{"rendered":"How Solana flipped Ethereum, Bitcoin in NFT Adoption"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Despite outshining BTC and ETH, SOL\u2019s number of NFT sellers and buyers dropped.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">SOL was up by 4% in the last 24 hours, but a few metrics looked bearish.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><a href=\"https:\/\/ambcrypto.com\/category\/solana-news\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Solana [SOL]<\/span><\/a><span style=\"font-weight: 400;\">, which nowadays has been in the limelight for its high network activity, has once again made an achievement in the NFT ecosystem.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> The blockchain has managed to outshine top players like <\/span><a href=\"https:\/\/ambcrypto.com\/category\/bitcoin-news\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Bitcoin [BTC]<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/ambcrypto.com\/category\/ethereum-news\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Ethereum [ETH]<\/span><\/a><span style=\"font-weight: 400;\"> on a key front. In the meantime, its price action has also turned bullish.\u00a0<\/span><\/p>\n<h2><b>Solana\u2019s promising NFT performance\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">SolanaFloor, a popular X handle that posts updates related to the blockchain\u2019s ecosystem, recently posted a <\/span><a href=\"https:\/\/x.com\/SolanaFloor\/status\/1811727408195862692?t=-ZvRzB28cmh14AXIx9megg&amp;s=19\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">tweet<\/span><\/a><span style=\"font-weight: 400;\"> highlighting an interesting development. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As per the tweet, Solana outshined all other blockchains in terms of daily NFT blockchain user adoption. SOL\u2019s number increased by almost 34% in the last 24 hours. Apart from SOL, <\/span><a href=\"https:\/\/ambcrypto.com\/category\/polygon-news\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Polygon [MATIC]<\/span><\/a><span style=\"font-weight: 400;\"> and Ethereum made it to the top three on the same list. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">AMBCrypto\u2019s look at DappRadar\u2019s <\/span><a href=\"https:\/\/dappradar.com\/rankings\/nft\/collections\/chain\/solana\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">data<\/span><\/a><span style=\"font-weight: 400;\"> revealed that Frogana, Retardio Cousins, and SMB Gen2 were the top three NFT collections on Solana over the last 24 hours. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As per Sanrtiment\u2019s data, SOL\u2019s NFT trade count spiked last week. Its NFT trade volume in USD also increased over the past few days.\u00a0<\/span><\/p>\n<figure id=\"attachment_406956\" aria-describedby=\"caption-attachment-406956\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Solana-SOL-15.21.53-14-Jul-2024.png\"><img decoding=\"async\" class=\"wp-image-406956 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Solana-SOL-15.21.53-14-Jul-2024.png\" alt=\"Solana's NFT trade count increased\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Solana-SOL-15.21.53-14-Jul-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Solana-SOL-15.21.53-14-Jul-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Solana-SOL-15.21.53-14-Jul-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Solana-SOL-15.21.53-14-Jul-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Solana-SOL-15.21.53-14-Jul-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Solana-SOL-15.21.53-14-Jul-2024-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Solana-SOL-15.21.53-14-Jul-2024-1200x406.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-406956\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">AMBCrypto\u2019s analysis of CRYPTOSLAM\u2019s data revealed that Solana also witnessed an increase in its NFT sales volume last week. To be precise, the number grew by 8%. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, not everything looked favorable. For instance, SOL\u2019s number of NFT sellers dropped by 59% last week. A similar declining trend was also noted in terms of SOL\u2019s number of NFT buyers, as the figure dropped by more than 66%. <\/span><\/p>\n<figure id=\"attachment_406957\" aria-describedby=\"caption-attachment-406957\" style=\"width: 1714px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-14-at-3.23.40\u202fPM-1.png\"><img decoding=\"async\" class=\"wp-image-406957 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-14-at-3.23.40\u202fPM-1.png\" alt=\"\" width=\"1714\" height=\"392\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-14-at-3.23.40\u202fPM-1.png 1714w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-14-at-3.23.40\u202fPM-1-300x69.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-14-at-3.23.40\u202fPM-1-1024x234.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-14-at-3.23.40\u202fPM-1-768x176.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-14-at-3.23.40\u202fPM-1-1536x351.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-14-at-3.23.40\u202fPM-1-1200x274.png 1200w\" sizes=\"(max-width: 1714px) 100vw, 1714px\" \/><\/a><figcaption id=\"caption-attachment-406957\" class=\"wp-caption-text\">Source: CRYPTOSLAM<\/figcaption><\/figure>\n<h2><b>SOL turns bullish<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">While all this happened, Solana bulls buckled up as its daily chart remained green. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">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\u2019s price increased by over 4% in the last 24 hours. At the time of writing, SOL was trading at $146.67 with a market capitalization of over $68 billion, making it the 5th largest crypto. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, SOL might soon lose its bullish momentum. At the time of writing, SOL\u2019s <\/span><a href=\"https:\/\/cfgi.io\/solana-fear-greed-index\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">fear and greed index<\/span><\/a><span style=\"font-weight: 400;\"> had a reading of 68%, meaning that the market was in a \u201cfear\u201d phase.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> Whenever the metric hits this level, it suggests that the chances of a price correction are high. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Therefore, AMBCrypto planned to have a look at SOL\u2019s daily chart to better understand what to expect from the token. As per our analysis, the technical indicator MACD displayed a bullish advantage in the market.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Is your portfolio green? Check out the <\/span><a href=\"https:\/\/ambcrypto.com\/calculator\/profit\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">SOL Profit Calculator<\/span><\/a><span style=\"font-weight: 400;\">\u00a0\u00a0\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">The Relative Strength Index (RSI) registered an uptick and was headed further up from the neutral mark, indicating a continued price increase. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nonetheless, the Chaikin Money Flow (CMF) went southward, which could restrict SOL\u2019s price from moving up in the coming days.\u00a0<\/span><\/p>\n<figure id=\"attachment_406958\" aria-describedby=\"caption-attachment-406958\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/SOLUSDT_2024-07-14_15-29-34.png\"><img decoding=\"async\" class=\"wp-image-406958 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/SOLUSDT_2024-07-14_15-29-34.png\" alt=\"\" width=\"2560\" height=\"1375\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/SOLUSDT_2024-07-14_15-29-34.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/SOLUSDT_2024-07-14_15-29-34-300x161.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/SOLUSDT_2024-07-14_15-29-34-1024x550.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/SOLUSDT_2024-07-14_15-29-34-768x413.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/SOLUSDT_2024-07-14_15-29-34-1536x825.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/SOLUSDT_2024-07-14_15-29-34-2048x1100.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/SOLUSDT_2024-07-14_15-29-34-1200x645.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-406958\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p><br style=\"font-weight: 400;\" \/><br style=\"font-weight: 400;\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solana outshined Bitcoin and Ethereum in terms of daily NFT blockchain user adoption, while its price action remained bullish.\u00a0<\/p>\n","protected":false},"author":75,"featured_media":406960,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4029,4,6376,20],"tags":[],"class_list":["post-406955","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-nft","category-social","category-solana-news","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - 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