Growth in NFT and futures trading excites Solana

Growth in NFT and futures trading excites Solana

solana This is one of the cryptocurrencies that has been good news last week, And Growth in NFT operations and demand in the futures market brings excitement among investors about a price increase possibleAccording to Deepayan Mitra n Ambicrypto.

According to cryptoslamHe The number of Solana NFT buyers and sellers increased by over 100% Last week.

not only this, but There was also a slight increase in the total number of transactions, Although Blockchain NFT Sales Volume Decreased Last Week,

interesting, as Crypto market overall turned slightly bullish, Solana price chart also turned green, Will Solana’s achievements in the NFT space have a big impact on price?

A Closer Look at Solana’s NFTs

Solana Deli posted a tweet on May 16 that highlighted NFT collection that contributed significantly to the growth Which registered Solana’s NFT location.

According to the last tweet, madlads ranked first List of most traded NFT collections in Solana over the past seven days,

madlad registered Trading volume of over 87,000Which was encouraging. The Box and Famous Fox Federation finished second and third from the list, respectively.

by NFT Metrics

data from Dune He told that Number of daily active addresses held steady on Solana NFT markets, This was optimistic as it suggested that more users were sticking with the blockchain.

in addition Transactions per program also remained relatively high,

According to VirtueHe There has been a sharp increase in the total number of blockchain NFT trades during the past week., He Total blockchain trade volume in USD also followed the same trend and Growth recorded during seven days,

solana is doing well

Thanks to the change in market sentiment, most cryptocurrencies including Solana were able to beat their charts.

data from coinmarket cap found out that Solana price has gained 0.5% in the last 24 hourstrading on 20.96 with a market capitalization of over $8.2 billion.

The demand for Solana was also high in the futures certified by binance green funding rate, However, his It seems to have waned in popularity of late as its social dominance has waned.,

There is strong potential for continued growth

A look at Solana’s daily chart revealed quite a few market indicators that were bullish, For example, he The MACD shows the possibility of a bullish crossover.

He SOL Relative Strength Index (RSI) posted a rally And moved towards neutral mark. Although Chaikin Money Flow (CMF) looked worrying as it went down,

solana It is trading in the red at $20.68 in the afternoon and remains well above the 70 and 200 moving averages.

Sign up for the free weekly newsletter on Critoactiveos, NFTs and Metaverso

Free newsletter.

Sign up for our FREE Crypto, NFT & Metaverse newsletter And you’ll receive our analysis on the main cryptocurrencies and assets of interest every week.