Solana’s NFT ecosystem has grown in recent weeks.
Metrics looked positive along with an increase in Solana’s TVL.

On January 22, Solana [SOL] re-entered the top 10 club after some tough weeks of price drops. Growth was noted in a number of areas such as market cap and the NFT ecosystem. For example, Solana Mobile recently introduced the new Saga Pass cards, which can further grow Solana’s NFT space.

Read from Solana [SOL] Price prediction 2023-24

What’s going on with Solana NFTs?

In the official announcement, Solana Mobile mentioned that they would introduce new cards in rotation every week. The first card would only be available to OG Saga Pass holders, and each week until launch, Solana Mobile will hand out a random card to the user’s wallet.

Moreover, SOL also revealed that the Saga Pass Cards collection will be verified on MagicEden soon. interesting, SOL‘s commendable performance in the NFT space was proven again a few days ago when it took second place list of the top chains by NFT trading volume in the last 30 days.

Santiment’s data also told a similar story, as SOL’s total NFT trade numbers and total USD NFT trade volume peaked last week.

Source: Sentiment

Realistic or not, here it is SOL market cap in terms of BTC

A look at SOL

Solana’s price action followed the growth of its NFT ecosystem as the former increased nearly 5% over the past seven days. From CoinMarketCapat the moment of writing, SOL was trading at $24.68 with a market cap of over $9.1 billion. In addition, DeFiLlamas data revealed that the network’s total locked value has also gained momentum since the beginning of the year, which looked promising.

Solana’s performance on metrics also continued in her favor over the past week. Demand from the derivatives market increased as the DyDx funding rate rose. Positive sentiment around SOL has also peaked in recent days, reflecting community trust in the network.

However, SOL’s development activity fell sharply, which was a negative signal.

Source: Sentiment

This post The Solana network is growing in multiple areas: the tables are turning for SOL

was published first on


Write A Comment