Solana‘s (SOL) ecosystem is showing signs of revival after the fluctuations experienced last year. In this revival, Non-Fungible Tokens (NFTs) play a significant role on the Solana network.
In the last two days, the number of unique wallets purchasing Solana NFTs has exceeded 12,000 daily. This situation indicates the highest level ever for this measure and constitutes more than 60% of the unique ETH NFT purchasing wallets.
The increase in Solana NFT purchasing wallets, surpassing unique ETH NFT purchasing wallets, demonstrates the growing interest and adoption of NFTs on the Solana blockchain. This heightened activity could attract more creators, developers, and users to leverage the platform for NFT-related activities.
The increased participation also presents potential opportunities for decentralized applications (DApps) and projects built on Solana. Additionally, the volume of Solana’s decentralized exchanges (DEX) has reached all-time highs, continuously hitting new peaks over the last three days.
However, while the number of daily active addresses on the Solana network is increasing, the number of transactions on the network has decreased. The price of SOL has not gained positive momentum during this period, and the transaction volume with SOL has also declined. At the same time, development activity on Solana has decreased, which meant a reduction in the number of developers’ contributions on GitHub. The expected new updates on the Solana network could be affected by this situation.