TL;DR Breakdown:
- Solana NFTs are gaining traction, and have accumulated over $170 million in volume.
- Rogue Sharks, Shadowy Super Coder, and BabyApes are the top Solana NFTs by trading volume.
Solana is arguably one of the major blockchain networks that are still thriving off the scalability issues with Ethereum, which for years, has been the go-to root network for digital currencies and early non-fungible token (NFT) projects. Since the beginning of the year, Solana has gained immense growth in network activity due to its fast and cheap transactions.
Given the scalability properties of Solana, many developers opted to deploy their projects on the network. As a result, the network records huge capital inflows and trading volume in some of these native projects, especially in the non-fungible tokens category. A total of $175 million in NFTs have been traded on the Solana blockchain, according to DeFiLlama.
What Solana NFTs are people trading?
Rogue Sharks
Rogue Sharks is currently the biggest Solana NFT people are buying in the market at the moment. As aggregated by CryptoRank, Rogue Sharks has a total trading volume of $15.6 million, but with a floor price of $562, which isn’t the most expensive on the list.
There are only a total of 5,000 Rogue Sharks collectible arts available.
Shadowy Super Coder
This is the second most-traded NFT on the Solana blockchain. The Shadowy Super Coder NFTs has a total trading volume of $10.9 million and a floor price of $5,709, according to CryptoRank. The NFTs were initiated by Project Galaxy to serve as a reward to every eligible Ethereum developer.
BabyApes
The BabyApes NFTs have a total volume of $8.9 million, rated the third most traded crypto arts on the Solana blockchain. It’s a collection of 5,000 algorithmically generated baby apes, and it reportedly has a floor price of $488.
Solchicks, Jungle Cats, Degenerate Trash Pandas, Genopets, Solana Monkette Business, Nyan Heroes, and Noiaducks make up the top ten Solana NFTs by total trading volume.
SOL update
The increased trading volume and usage of Solana blockchain ultimately creates a demand for the network’s native cryptocurrency SOL, and that is fundamentally bullish. During the time of writing, SOL was trading at $193 on CoinMarketCap, with a market capitalization of around $58 billion – the fifth largest in the crypto market.
SOL will continue to exist and grow as more users join the network and overall trading volume soars.
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