Even though the economy is getting worse, Solana NFT trade volume is getting stronger.
However its native token lost about 94% of its value last year, the amount of NFT traded on Solana shows that the ecosystem is growing. The week of December 25 saw the most activity since September.
Solana stayed in second place behind Ethereum in 2022, according to The Block’s Data Dashboard, even though the market started to get weak around July.
Though it was a good month, Solana’s favorite NFT projects, DeGods, and its spinoff collection y00ts made up the majority of trading volumes. This could mean that there will be more uncertainty in the future. Both are building bridges to Ethereum to get ahead of other top-tier NFT projects like Bored Ape Yacht Club. This could have an effect on Solana’s trading volume in the future.
Solana’s Sol has risen more than 15% in the last 24 hours, and it has gone up more than 30% this year. Due to last month’s drops, Avalanche’s native AVAX was briefly worth more than its market cap.