NFT traders run from Solana to Cardano, here are reasons for such action
as it is known from Tweets A significant number of NFT traders, many of them are rushing to move away from Solana and to Cardano as the more active platform for flipping NFT commodities now. The reason for such explicit statements appears to be the increase in activity on the Cardano NFT.
According to OpenCNFT, over the past 24 hours, NFT trading volume on Cardano has increased by 110%. At the same time, the number of trades increased by 36.6% and the number of items sold by 39%. In addition, the top 12 CNFT collections have seen their values increase by at least 100% to 2,500% in the last 24 hours.
Solana NFT figures look disappointing against the backdrop of such multi-digit numbers, which may have been a source of displeasure from NFT traders supporting this blockchain.
NFT nuances
Despite the emerging negativity of NFT market participants toward Solana, the blockchain is cheerfully enough taking this market share away from Ethereum, the main one of them all. As reported by U.Today earlier, Solana’s share of total NFT trading volume increased threefold from mid-August to the end of September, from 7% to 24%.
Turning to the bigger picture of the NFT market, data from Delphi Digital shows that the number of wallets holding non-fungible tokens has doubled this year, reaching six million. Despite the strong downtrend in the NFT sector, the low price seems to be attractive to newbies, at least trying to get into this crazy vibrant segment of the crypto market.
