Solana NFTs are swinging it better in revenue compared to Ethereum NFTs in just 24 hours which may be attributed to the hype of the highly awaited launching of the Trippin’ Ape Tribe collection.
SOL is getting the kick from the Solana Summer, beefed up by the Trippin’ Ape Tribe collection launch.
Solana, dubbed as the leading altcoin, with its new NFT project, Trippin’ Ape Tribe, isn’t trippin’ (pun intended) with outperforming Ethereum NFT and all other NFT projects in trading volume over the past 24 hours.
Suggested Reading | Metaverse Record: Biggest Property Sale In Virtual Land Hits $5 Million
The tides have turned from the high-value NFTs like Ethereum as Solana NFTs are trumping it despite the desolate stance of the crypto market. Ethereum NFT trading volume has been miserable for the past couple of weeks.
Solana NFTs, on the other hand, are generating more market sales, or roughly $24.3 million, in the past 24 hours. Ethereum has stacked up over $24 million in the same period.
Trippin’ Ape Tribe, a rare community-first PFP project, was launched Tuesday on Magic Eden (OpenSea). While it may look like a small fraction, this is the first time that a smaller NFT like SOL has overpowered the giant Ethereum.
Sales of the NFTs were up by 436% in 24 hours compared to the previous day. Trippin’ Ape Tribe, a rare community-first PFP project, was launched Tuesday on Magic Eden. This NFT project is almost identical to the Mutant Ape Yacht Club NFT by Ethereum.
While Ethereum remains on its high horse as the leading NFT platform, SOL’s rise is a force to reckon with, considering the degree of attention it’s getting lately.
Solana NFT’s overnight success was primarily the result of the Trippin’ Ape Tribe project, constituting $14.5 of Solana’s total sales.
Trippin’ Ape is considered the most popular NFT project in that 24-hour window and slammed all other NFT projects. Next in line is Bored Ape Yacht Club, which totaled $3.5 million.
SOL total market cap at $14.8 billion on the daily chart | Source: TradingView.com
Suggested Reading | Crypto Is Now Accepted By One Of Brazil’s Leading Real Estate Companies
Trippin’ Ape Tribe NFT is priced at a minimum of 54 SOL or roughly $2,600 and can be bought at the Magic Eden.
NFT marketplace trading volume has ramped up this year compared to the 2021 stats of $25 billion. Solana NFT market is picking up with Okay Bears leading for barely a month with $100 million in sales.
Magic Eden has also outpaced OpenSea, an Ethereum marketplace, for user base and transactions per week.
On the other hand, SOL transaction fees are cheaper than Ethereum’s, which could have contributed to the increase in users and number of transactions.
Featured image from YouTube, chart from TradingView.com
Confusion arose on Gate.io when Binance listed $PIXEL, leading to concerns about potential intentional deception due to similarities with PixelVerse's token name. Investors should exercise caution and conduct thorough research amidst uncertainties surrounding Gate.io's listing practices and PixelVerse's credibility.
WeatherlyDogecoin's acceptance for pizza purchases with a 25% discount at a NYC pizzeria showcases its growing utility and mainstream appeal, reflecting a broader trend of cryptocurrency adoption in everyday transactions. Despite its origins as a joke, Dogecoin's community-driven enthusiasm, celebrity endorsements like Elon Musk's, and real-world applications beyond food and retail suggest its potential to revolutionise various industries.
MiyukiFerrari now accepts Dogecoin for purchasing luxury cars in the US, marking a milestone in cryptocurrency's mainstream adoption. This move reflects a growing trend of businesses adapting to consumer demand for digital payment options, with Dogecoin gaining traction beyond its meme origins.
WeiliangCircle has decided to stop supporting USDC on the TRON blockchain due to risk management concerns, possibly influenced by allegations of TRON's involvement in terrorism financing. Despite this, TRON's cryptocurrency, TRX, continues to perform well in the market.
MiyukiCircle discontinues USDC on Tron, citing risk management, impacting USDC holders and Tron's DeFi ecosystem. Options for transfer to supported networks provided amidst regulatory concerns and strategic shifts.
AlexSky Mavis announces Kaidro, an anime-style RPG on Ronin blockchain, featuring collaborative gameplay, a planned TV series, and Web3 fan engagement through NFT ownership.
BrianApple's PQ3 in iOS 17.4 introduces quantum-resistant encryption for iMessage, enhancing security against future quantum computing threats, and setting new industry standards for messaging app privacy.
MiyukiCitrea aims to integrate zero-knowledge rollups with Bitcoin, enhancing its scalability and utility, backed by a $2.7 million seed round led by Galaxy Ventures.
WeiliangGreg Solano becomes CEO of Yuga Labs, focusing on creativity, partnerships, and advancing the BAYC and Otherside projects, promising a renewed vision and market positivity around BAYC's future.
AlexSam Bankman-Fried faces legal complexities, waiving right to conflict-free representation, as sentencing looms following FTX’s downfall and his fraud conviction.
Brian