Despite Network Outages, Solana Trumps Ethereum As NFT Sales Hit $947 Million

Despite Network Outages, Solana Trumps Ethereum As NFT Sales Hit $947 Million
фото показано с : zycrypto.com

2022-10-5 22:18

Solana maintains the top spot as the leading blockchain for NFTs getting the lion’s share of the $947 million in NFT sales in September. Solana suffers yet another network service interruption bringing the total to 12 this year alone. Analysts now view NFTs as Solana’s strong suit amid a wave of adverse reports surrounding the network.

The sale of Non-Fungible Tokens (NFTs) has remained almost uniform in volume in the past few months despite the current downturn occasioned by the broader financial market and other factors.

Solana has again recorded a higher NFT trading volume than Ethereum, the largest blockchain for decentralized applications (DApps). Despite Ethereum being the more extensive network, it has continued to trail Solana in terms of NFT transaction volumes in recent weeks.

The last six weeks have seen NFT trading on Solana rise from 7% to 24%, with the number of unique buyers increasing by 34% in September. Ethereum, on the other hand, has witnessed a decline in volume since April, even as it houses top NFT collections, including CryptoPunks and Bored Ape Yacht Club (BAYC).

The reason for the growth of NFT sales on Solana can be linked to its low transaction fees. Fees on Solana are far cheaper than Ethereum, allowing users to buy collectibles at fair value, while developers are drawn towards it because of its speed and transaction costs.

The NFT market, which recorded over $4 billion in January, has sharply declined over the months to stand at $947 million in September. In June, NFT volumes topped the $1 billion mark, with July and August recording $916 million and $927 million, respectively.

Solana’s downtime happens for the umpteenth time

The Solana network has been hailed for its fast transaction processing speed and low fees, but it has failed to deal with technical issues that have cast a dark cloud over the network’s future. A misconfigured node on the last day of September caused a network outage, bringing the number of network issues to 12 this year alone.

Despite the frequent outages, digital collectors have made Solana their home in recent weeks. There has been a lot of speculation from several fronts that the outages on the network may prevent it from moving to the next level in its plans to overthrow Ethereum, with many users saying that the “Ethereum killer must be better in terms of network strength and stability.”

origin »

Solana (SOL) на Currencies.ru

$ 124.01 (+3.69%)
Объем 24H $6.065b
Изменеия 24h: 0.09 %, 7d: -8.86 %
Cегодня L: $113.93 - H: $125.33
Капитализация $63.146b Rank 6
Цена в час новости $ 34.26 (261.97%)

solana network amid suit nfts wave adverse

Источник: zycrypto.com

solana network → Результатов: 126


Фото:

Solana eyes transaction boost with proposed block compute increase

Solana developers have proposed increasing the network’s block compute limit from 48 million to 50 million units to handle more transactions and enhance network efficiency. According to details shared on GitHub via a Solana improvement document, this incremental increase aims to improve transaction processing without compromising the network’s performance.

2024-12-6 15:30


Stress Testing: Solana Restarts Mainnet, L2 Arbitrum Goes Down, Ethereum Dodges a Reorg Attack

The faster and cheaper Ethereum competitor, Solana Network, experienced yet another “intermittent instability” on Tuesday. Unlike on Sept. 2nd, when the Solana Mainnet beta suffered a performance degradation resulting in temporarily reducing network throughput for about an hour, this time it took several hours.

2021-9-15 15:59


Фото:

Проект децентрализованных оракулов Pyth Network запущен на Solana

Благодаря запуску проекта децентрализованных оракулов Pyth Network в основной сети Solana, разработчики смогут использовать предоставляемые Pyth Network рыночные данные в своих приложениях DeFi.

2021-8-27 12:55


Aleph.im releases decentralized indexing solution for Solana blockchain

Aleph. im, a cross-blockchain decentralized storage & computing network, today announced the release of decentralized indexing for the Solana blockchain. The Solana blockchain is driven by intra-shard parallelism, which is capable of processing thousands of smart contracts at once, and by Proof of History, a distributed timekeeping method unlocking low latency.

2021-8-20 20:19


Aleph.im introduces decentralized indexing for Solana blockchain

Aleph. im, a cross-blockchain decentralized storage & computing network, today announced the release of decentralized indexing for the Solana blockchain. The Solana blockchain is driven by intra-shard parallelism, which is capable of processing thousands of smart contracts at once, and by Proof of History, an innovation in distributed timekeeping that unlocks low latency.

2021-8-20 20:19


Grayscale может запустить 13 новых трастов

Крупнейшая компания по управлению цифровыми активами Grayscale Investments раскрыла названия еще 13 токенов, возможность запуска трастов на основе которых она рассматривает. Это 1inch (1INCH), Bancor (BNT), Curve (CRV), Internet Computer (ICP), Kava (KAVA), Kyber Network (KNC), Loopring (LRC), NEAR (NEAR), Polygon (MATIC), Ren (REN), Solana (SOL), Universal Market Access (UMA) и 0x (ZRX).

2021-6-18 11:22


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Solana’s Bullish Comeback Sparks Buzz With 2,500% Surge Projection

Is Solana crypto ripe for a possible huge price rally? Some market analysts believe it does, seeing that the crypto is moving in a favorable pattern. Investors and traders are now paying attention to Solana after an impressive comeback, allowing the digital currency to once again hit a two-month high.

Solana (SOL) Funding Rate Signals A Decline: Investors Expect $130

Solana is now trading around a critical support level after experiencing a 15% decline from its local highs at $162. 36. While Solana has shown relative strength compared to other altcoins, the recent price action has introduced heightened volatility and potential risks for investors.

Solana, Ethereum Attract Traders Amid Bitcoin Open Interest Plunge

Data shows that Bitcoin (BTC) Open Interest plummeted during the latest market retrace, but Solana (SOL) and Ethereum (ETH) have been resilient. Solana & Ethereum Open Interest Has Only Seen A Mild Retrace According to data from the analytics firm Santiment, Bitcoin has seen its Open Interest plunge after the pullback in its price.

Solana Set For “A Major 53% Price Move,” Analyst Reveals Why

An analyst has explained how Solana could be setting up for a major 53% move based on a Symmetrical Triangle pattern forming in its price chart. Solana Has Been Travelling Inside A Symmetrical Triangle Recently In a new post on X, analyst Ali Martinez discussed a pattern that has recently taken shape in Solana’s daily price chart.

Solana & Bitcoin Sentiment Still Remains Bearish: Signal To Buy More?

Data suggests the market sentiment around Solana (SOL) and Bitcoin (BTC) is negative currently, something that could benefit their prices. Crowd Bearish About Solana & Bitcoin While Ethereum Gets All The Hype As explained by the on-chain analytics firm Santiment in a post on X, investors have still not become bullish about Bitcoin and Solana […]

Solana & Other Top Coins Lose Trading Volume, Market Interest Down?

On-chain data shows Solana and other top cryptocurrencies have seen a decline in trading volume recently. Here’s what this says about the market. Solana, Bitcoin, And Ethereum Trading Volumes Have Declined Over Past Month According to data from the on-chain analytics firm Santiment, the cryptocurrency market’s trading volume has been declining since its peak in […]