{"id":9118,"date":"2023-07-05T09:03:00","date_gmt":"2023-07-05T09:03:00","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2023\/07\/05\/are-solana-nfts-saving-the-industry-in-this-bear-market\/"},"modified":"2023-07-05T09:03:00","modified_gmt":"2023-07-05T09:03:00","slug":"are-solana-nfts-saving-the-industry-in-this-bear-market","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2023\/07\/05\/are-solana-nfts-saving-the-industry-in-this-bear-market\/","title":{"rendered":"Are Solana NFTs Saving The Industry In This Bear Market?"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Solana <a href=\"https:\/\/nftevening.com\/nft-non-fungible-token-guide\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">NFTs<\/a> have experienced a surge in trading volume lately. In addition, SOL\u2019s price has also increased. Could Solana NFTs save the bear market? Here\u2019s everything you need to know.<\/p>\n<p><strong>TL;DR<\/strong><\/p>\n<ul>\n<li>Solana NFTs experience a surge in trading volume, signaling growth in the ecosystem.<\/li>\n<li>SOL\u2019s price shows a positive surge in the last 24 hours, boosting investor confidence.<\/li>\n<li>Solana supporters find optimism in SOL\u2019s strong performance and the high demand it generates in the derivatives market, despite the potentially short-lived nature of the current uptick.<\/li>\n<\/ul>\n<figure id=\"attachment_103354\" aria-describedby=\"caption-attachment-103354\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-103354\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Solana.png\" alt=\"Still from Solana NFTs \" width=\"1200\" height=\"675\" srcset=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Solana.png 1200w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Solana-300x169.png 300w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Solana-1024x576.png 1024w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Solana-768x432.png 768w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Solana-100x56.png 100w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Solana-150x84.png 150w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Solana-450x253.png 450w\" sizes=\"(max-width: 1200px) 100vw, 1200px\"\/><\/noscript><figcaption id=\"caption-attachment-103354\" class=\"wp-caption-text\">Could Solana NFTs Save The Bear Market?<\/figcaption><\/figure>\n<h2><span id=\"Solana_Surges_Thanks_to_NFTs\">Solana Surges Thanks to NFTs<\/span><\/h2>\n<p>Solana has experienced a resurgence thanks to the rise of its NFTs. In the past few weeks, there has been a notable increase in trade counts and trade volume for Solana NFTs. Interestingly, the price of SOL has also seen a positive surge within the last 24 hours.<\/p>\n<p>The growing popularity of Solana NFTs is evident from the latest data sets, showcasing optimistic growth for the ecosystem. Notably, the Twitter account <a href=\"https:\/\/twitter.com\/solana_daily\/status\/1674024855866408965?s=20\" target=\"_blank\" rel=\"noopener\">Solana Daily showed<\/a> that MagicEden boasted the highest number of active users in the past seven days.<\/p>\n<p>Furthermore, examining the blockchain\u2019s metrics reveals a similar story of growth. Data from <a href=\"https:\/\/dune.com\/chuxin\/Solana-NFT-Overview\" target=\"_blank\" rel=\"noopener\">Dune Analytics<\/a> indicates that Solana NFTs have experienced an upturn in the total number of transaction counts and transaction volume in recent weeks. Remarkably, Solana NFT sales volume increased by more than 26% in the past seven days, with a significant rise of over 30% in the number of NFT buyers and sellers.<\/p>\n<h2><span id=\"How_About_SOL\">How About SOL?<\/span><\/h2>\n<p>Investors have also been pleased as the price of SOL has shown a bullish trend, having surged by nearly 2% in the last 24 hours. At present, SOL is trading at $16.27 with a market capitalization surpassing $6.5 billion.<\/p>\n<p>However, it\u2019s crucial to note that the current surge may have a short-lived duration due to the typical decline in trading volume, which typically signals a bearish trend. Solana\u2019s one-week price volatility suggests a potential end to the uptick, although the open interest in SOL has increased. Thus, indicating the possibility of a continued price trend.<\/p>\n<p>Additionally, SOL\u2019s high Binance funding rate reflects its demand in the derivatives market, further reinforcing investors\u2019 confidence in the token.<\/p>\n<p>No one can predict what will happen next in this market. However, it\u2019s nice to receive some good news for a change. If you\u2019re a Solana maxi, then you\u2019ll be pleased with its recent performance.<\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/nftevening.com\/are-solana-nfts-saving-the-industry-in-this-bear-market\/\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solana NFTs have experienced a surge in trading volume lately. In addition, SOL\u2019s price has also increased. Could Solana NFTs save the bear market? Here\u2019s everything you need to know. TL;DR Solana NFTs experience a surge in trading volume, signaling growth in the ecosystem. SOL\u2019s price shows a positive surge in the last 24 hours, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9119,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[9],"tags":[21],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Solana.png","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/9118"}],"collection":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=9118"}],"version-history":[{"count":0,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/9118\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/9119"}],"wp:attachment":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=9118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=9118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=9118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}