As the cryptocurrency market experiences its highs and lows, Solana gains significantly. It has experienced an increase of 6% over the last 24 hours. During the span of a week, howver Solana gains a 28%.The market as a whole gains 2%, however out of the top ten coins Solana has risen the most.
There should be a reason why Solana has been on the rise for the past 24 hours, and we believe we know what it is. There has been a demand for NFTs on the platform, and yesterday it was announced that OpenSea – the NFT marketplace – will be including Solana NFTs this coming April.
This has been long-awaited news for the public, and therefore Solana has experienced gains. The NFT trading volume on other various Solana marketplaces has gone up close to 80%. In comparison, Ethereum trade volume gains by only 8% in the past 24 hours. However, Ethereum produces substantially greater total trading volume. It gains over $67 million transactions over the last day compared to $13 million on Solana. The addition of Solana NFTs to the OpenSeas platform brings with it significant attention. This move will enlarge the audience as well as make the platorm useful for a different crowd. The announcement itself has brought excitement to Solana collectors and NFTers.
Several Ethereum whales are already pouring money into the Solana NFT market. Including one Ethereum NFT collector who stated he was putting in $180,000 SOL to “sweep” various project floors; as well as to purchase the cheapest available NFTs for Solana NFT collections.