Solana (SOL) Emerging As New Competitor to Ethereum’s NFT Dominance: Analytics Firm Messari

Solana (SOL) Emerging As New Competitor to Ethereum’s NFT Dominance: Analytics Firm Messari

New information from crypto experiences firm Messari uncovers that Solana (SOL) is arising as a challenger to driving shrewd agreement stage Ethereum’s (ETH) non-fungible token (NFT) market dominance.

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In a new report, Messari says that despite the fact that Solana’s general utilization declined in Q2 of this current year, its NFT action has extraordinarily accelerated.

“Following a breakout end to 2021 and beginning of 2022, Solana NFT activity accelerated amidst the network’s decline in usage and DeFi activity during Q2. Daily new NFTs dramatically increased to over 7 million newly minted NFTs, representing 46.4% growth. For perspective, newly minted NFTs over the first six months of 2022 are twice the amount minted during all of 2021.”

The market knowledge organization discloses that NFT action on Solana detonated in May and June after it came to a 2022 low in March.

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