Ethereum losing ground as Solana now accounts for a quarter of total NFT volume
Cryptocurrency research firm Delphi Digital posted a chart showing Solana NFT volume surging. The chart showed since mid-August, NFT volume on the Solana chain has been trending upwards, leading to a peak of 40% in early September. Of interest, “other blockchains” accounted for significantly less volume than ETH or SOL.
During this time, the number of weekly Solana mints also spiked higher, suggesting a positive correlation between newly circulated non-fungibles and trading volume on the chain. In other words, freshly minted Solana NFTs are finding buyers. The data indicates that Ethereum is becoming less popular for NFTs, despite moving to Proof-of-Stake and addressing the issue of carbon/energy-intensive usage. Despite the win for Solana and other blockchains, the relatively short time frame of change casts doubt on whether this is an enduring trend.
Source
@Solana_Updates
