Key Points: After months of declining performance following the collapse of DeFi and NFT businesses, NFT sales on Solana suddenly shot up to a new local record.
NFTs are in high demand as investors are more willing to take on greater risk. This has led to an increase in NFT sales on Solana.
Despite an increase in NFT sales, SOL’s price has remained relatively steady. This shows that the NFT market may still be recovering and may not have reached its previous highs.
After months of declining performance due to the collapse of DeFi and NFT businesses, NFTs sales on Solana have suddenly risen to a new local high. This contrasts with other cryptocurrency like Shiba Inu or Cardano, whose values have undergone significant changes. Despite an increase in NFT sales, SOL’s price has remained stable. This shows that the NFT marketplace is still recovering. It may not have reached its previous highs. It is important to remember that prices can fluctuate rapidly depending on market mood and investor activity in the NFT market. But the recent surge in NFT sales on the Solana network is encouraging for the sector and indicates that the NFT business is growing.Solana has lost more than 20% of its value since the end of January, demonstrating that the short-term spike in speculative interest in the asset will not result in a sustained recovery rally on the market, particularly during the general industry correction that most analysts have been anticipating.DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comAnnieCoincu NewsTags: nft salesSolanasolana nft