Solana's NFT Trading Volume Surpasses Ethereum's for the First Time in History

July 1 (Cointime) - Solana's non-fungible token (NFT) trading volume surpassed that of Ethereum, reaching $25.5 million in 24 hours compared to Ethereum's $24.5 million.

This is the first time Solana has beaten Ethereum in terms of total NFT trading volume. While both Solana and Ethereum have decentralized finance (DeFi) ecosystems, Ethereum's total value locked (TVL) is significantly higher at $26.7 billion compared to Solana's $265.57 million. Additionally, Ethereum's market capitalization is much larger than Solana's at $231.17 billion compared to $7.38 billion. Despite these differences, both protocols use the proof-of-stake (PoS) consensus model.

Solana Ethereum NFT

Original Link

Comments

All Comments

Recommended for you

Cointime May 3rd News Express

1. The 133rd Ethereum ACDC meeting: The goal is to complete the devnet within 7-10 days
The 133rd Ethereum ACDC meeting: The goal is to complete the devnet within 7-10 days

The Ethereum developers held their 133rd ACDC conference call. First, they outlined the latest research on Ethereum protocol confirmation rules. Then, they discussed Pectra updates related to EIP-7547 and CFI states, and decided to put them on hold temporarily. They also updated the v1.5.0-alpha.1 specification. Regarding the implementation updates for devnet-0, most teams are making progress, but there are also some unexpected complexities. The goal is to complete devnet within 7-10 days.
Cointime精选 ·

UNVEILING THE CELESTIAL MASTERY: TREVOR JONES’ CRYPTOANGELS PROJECT

Renowned digital artist Trevor Jones, a visionary in the fusion of traditional art with blockchain technology, is set to transcend boundaries with his latest project, CryptoAngels. This ambitious initiative is not merely an art drop; it’s a comprehensive ecosystem encompassing physical and digital realms, games, and a vibrant community engagement, promising to be a cornerstone event in the NFT landscape of 2024.
Cointime精选 ·

The Future of Ethereum: Use Cases (Part 1)

In our 4-part series named “The Value of Ether”, we have discussed in detail the framework in which we think it is most appropriate to link value accrual to ETH token holders with the underlying mechanics that operate the Ethereum blockchain. More specifically, we have laid out a case on how increased usage of the network has an impact on supply dynamics and can therefore have a knock-on effect on the value of the Ether token.
Cointime April 23th News Express

1. EigenLayer: Deposit limits for all LST tokens will be removed on April 16
Cointime精选 ·

Solana Uncovered: An Introduction to the Solana Network

A data-driven overview of the Solana Blockchain
Cointime精选 ·

Introducing eoracle - the Ethereum Oracle

Ethereum and Bitcoin faced challenges that were overcome with a very cautious approach, resulting in an extraordinary case study for global human coordination. Adding real-world data through oracles as another layer on top of it is a very promising next step. However, so far, we have taken this step forward without the same caution that is fundamental to the journey toward a decentralized ecosystem. Perhaps we were too close to the problem, focusing only on the outcome - making data accessible - and not being mindful enough about the process allowing it.
Cointime精选 ·

The Future of Culture is Tokenized

How Culture Coins could be the future of Crypto.
Cointime精选 ·

State of Solana Q1 2024

Solana (SOL) is an integrated, open-source blockchain with the goal of synchronizing global information at the speed of light. Solana optimizes for latency and throughput, sacrificing some verifiability. It seeks to accomplish this through features such as its novel timestamp mechanism called Proof-of-History (PoH), block propagation protocol Turbine, and parallel transaction processing. Since mainnet launch in March 2020, several network upgrades have brought further network performance and resilience, including QUIC, stake-weighted Quality of Service (QoS), and local fee markets.
Cointime精选 ·

NFT Futures: A New DeFi Primitive for a Cultural Based Asset Class

NFT Futures apply the same concept of perpetual swaps to NFTs In doing so, it unlocks a more accessible and two-sided trading experience not available before in the NFT spot market. Although it is too early to judge, the potential value propositions offered by NFT futures have the potential to grow in the NFT market.