Solana’s 1 NFT Market Surpasses NFT Projects Running on Ethereum
Solana, a blockchain platform offering smart contract functionality using a proof-of-stake mechanism, has created a strong position in the crypto as well as NFT ecosystem. Launched in March 2020 by Anatoly Yakovenko, the platform is performing well and has achieved new heights in the increasingly competitive landscape. Solana surpassed Ethereum in the NFT industry. One of the main reasons behind this is Solana’s user-friendly and cost-effective blockchain. The blockchain is not only speedy but also has incredible access. The blockchain, when combined with the NFT landscape, offers a new recipe that is more delicious than ever. The blending of Solana with the NFT is highly appreciated, offering mass adoption. Based on the recent news, the blockchain has rocked the NFT stage with its outstanding performance. However, Ethereum NFTs are also performing well in the NFT industry, giving tough competition to Solana and other blockchains. According to DeFiLlama, one of the biggest analytics panels for various DeFi protocols, Solana’s present total value locked (TVL) is around $306.8 Million. Solana is performing well, as per the recent analysis and reports.
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