Solana Ecosystem Flourishes Across NFTs, Memecoins, DeFi, and Gaming Apps
Solana thrives in NFTs, memecoins, DeFi, and gaming. Notable projects include Magic Eden, BONK, and Star Atlas. Developer retention exceeds 50%, showcasing a robust ecosystem.
![image Edmund](https://image.coinlive.com/24x24/cryptotwits-static/2488f86d7c9c42855a452b202bf85f6c.png)
Solana thrives in NFTs, memecoins, DeFi, and gaming. Notable projects include Magic Eden, BONK, and Star Atlas. Developer retention exceeds 50%, showcasing a robust ecosystem.
As of January 16, 2024, Ethereum NFT trading volume has increased 4x, while Solana NFT trading volume has increased more than 10x since its 2023 nadir.
DeGods will bridge over to Ethereum while its sister project Y00ts will move to Polygon with a grant from the layer 2's partnership fund.
Magic Eden said it is waiving its platform fee and introducing a new optional royalty model.
According to The Block Research's Data Dashboard, the number of NFTs minted on Solana surged to a high of 312,000 on Sept. 7.
Magic Eden accounts for over 90% of NFT trading volume on Solana.
With the introduction of platforms like Solana, buyers may now purchase NFTs for a low transaction charge and with minimal congestion.
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