{"id":442910,"date":"2024-11-16T08:30:25","date_gmt":"2024-11-16T03:00:25","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=442910"},"modified":"2024-11-15T19:55:16","modified_gmt":"2024-11-15T14:25:16","slug":"solana-nft-adoption-rises-3x-more-users-than-ethereum-polygon","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/solana-nft-adoption-rises-3x-more-users-than-ethereum-polygon\/","title":{"rendered":"Solana NFT adoption rises: 3x more users than Ethereum, Polygon"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><em><span style=\"font-weight: 400;\">The overall NFT market cap surged by $1 billion in just a week.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><em><span style=\"font-weight: 400;\">SOL\u2019s price dropped by 4%, but buying pressure remained high.<\/span><\/em><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The crypto market has remained highly volatile over the last week as several top coins rallied then pulled back. Not only was the market getting traction in terms of crypto prices, the NFT ecosystem was also heated up. While that happened, <\/span><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;\"> set a new record. \u00a0<\/span><\/p>\n<h2><b>Solana\u2019s splendid NFT performance\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The NFT market overall witnessed promising growth. This was evident from the rise in its market capitalization. At the time of writing, the NFT market cap stood at $5.94 billion, which was a $1 billion increase compared to the previous week. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Activity in the NFT market also witnessed a similar increase, as NFT volume rose.\u00a0<\/span><\/p>\n<figure id=\"attachment_442911\" aria-describedby=\"caption-attachment-442911\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-3.02.30\u202fPM-1.png\"><img decoding=\"async\" class=\"wp-image-442911 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-3.02.30\u202fPM-1.png\" alt=\"NFT market capitalisation \" width=\"2560\" height=\"855\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-3.02.30\u202fPM-1.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-3.02.30\u202fPM-1-300x100.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-3.02.30\u202fPM-1-1024x342.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-3.02.30\u202fPM-1-768x256.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-3.02.30\u202fPM-1-1536x513.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-3.02.30\u202fPM-1-2048x684.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-3.02.30\u202fPM-1-1200x401.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-442911\" class=\"wp-caption-text\">Source: NFT Go<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">SolanaFloor, a popular X handle that posts updates related to the blockchain\u2019s ecosystem, pointed out a major development. As per the <\/span><a href=\"https:\/\/x.com\/SolanaFloor\/status\/1857070662642180431\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">tweet<\/span><\/a><span style=\"font-weight: 400;\">, Solana surpassed all other blockchains combined in daily NFT users. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">For perspective, while Solana\u2019s number of daily users touched 18k, other top blockchains like <\/span><a href=\"https:\/\/ambcrypto.com\/category\/polygon-news\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Polygon [POL]<\/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;\"> had 5.1k and 3.5k users, respectively.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> This substantial difference between these blockchain\u2019s NFT users allowed SOL to gain 55% dominance in the space. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Apart from this, CRYPTOSLAM\u2019s data revealed quite a few other positive updates for SOL\u2019s NFT space. For instance, the blockchain\u2019s NFT sales volume surged by 85% last week. The total number of NFT transactions also soared by 11% during the same period.\u00a0 <\/span><\/p>\n<figure id=\"attachment_442912\" aria-describedby=\"caption-attachment-442912\" style=\"width: 2282px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-3.17.37\u202fPM.png\"><img decoding=\"async\" class=\"wp-image-442912 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-3.17.37\u202fPM.png\" alt=\"\" width=\"2282\" height=\"398\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-3.17.37\u202fPM.png 2282w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-3.17.37\u202fPM-300x52.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-3.17.37\u202fPM-1024x179.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-3.17.37\u202fPM-768x134.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-3.17.37\u202fPM-1536x268.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-3.17.37\u202fPM-2048x357.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-3.17.37\u202fPM-1200x209.png 1200w\" sizes=\"(max-width: 2282px) 100vw, 2282px\" \/><\/a><figcaption id=\"caption-attachment-442912\" class=\"wp-caption-text\">Source: CRYPTOSLAM<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">While Solana outshined the rest, Mad Lads and SMB Gen 2 made it to the top three on the list of top SOL NFT collections of the past seven days. Interestingly, the collection that raked #1 was a newly added collectible, named Luces, as per <\/span><a href=\"https:\/\/dappradar.com\/rankings\/nft\/collections\/chain\/solana?range=week\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">DappRadar<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<h2><b>How is SOL coping?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Like Solana NFTs, the token SOL also witnessed gains last week, but things turned in bear&#8217;s favor in the past 24 hours. The token\u2019s value dropped by over 4%. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the time of writing, SOL\u2019s <\/span><a href=\"https:\/\/cfgi.io\/solana-fear-greed-index\/1h\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">fear and greed index<\/span><\/a><span style=\"font-weight: 400;\"> was in the \u201cgreed\u201d phase, which could have contributed to this latest price correction. <\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Read <\/span><a href=\"https:\/\/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;\"> 2024\u20132025\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">However, investors mustn\u2019t lose hope. As per DeFiLlama\u2019s data, SOL\u2019s inflow declined significantly over the past few days. This indicated that buying pressure was high, which often results in price hikes.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the decline in flows actually translates into a bullish trend reversal, then investors might witness SOL rallying towards $220, as <\/span><a href=\"https:\/\/ambcrypto.com\/solana-nears-220-will-bullish-sentiment-drive-sol-even-higher\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">highlighted<\/span><\/a><span style=\"font-weight: 400;\"> earlier by AMBCrypto.\u00a0<\/span><\/p>\n<figure id=\"attachment_442913\" aria-describedby=\"caption-attachment-442913\" style=\"width: 1442px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-2.39.36\u202fPM.png\"><img decoding=\"async\" class=\"wp-image-442913 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-2.39.36\u202fPM.png\" alt=\"Solana's inflow\" width=\"1442\" height=\"754\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-2.39.36\u202fPM.png 1442w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-2.39.36\u202fPM-300x157.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-2.39.36\u202fPM-1024x535.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-2.39.36\u202fPM-768x402.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-15-at-2.39.36\u202fPM-1200x627.png 1200w\" sizes=\"(max-width: 1442px) 100vw, 1442px\" \/><\/a><figcaption id=\"caption-attachment-442913\" class=\"wp-caption-text\">Source: DeFiLlama<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solana outperformed other blockchains combined in a key NFT ecosystem front, but SOL turns bearish.\u00a0<\/p>\n","protected":false},"author":75,"featured_media":442914,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,6376,20],"tags":[6427,6425],"class_list":["post-442910","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-solana-news","category-trading-view","tag-ambcrypto","tag-featured"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - 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