Delphi Digital Caused quite a stir lately then open who – which Solana Meet a new type of ATH. According to his tweet, Solana has recorded NFT volumes of 344 thousand – the ATH well surpassed its previous high in May. This large increase may be due to y00 s NFTs.
Ergo, question – could the increased interest in Solana’s NFTs have a positive effect on price?
Solana has been in the news for his growing influence on NFT place for some time now. However, after the NFT coin at y00t, the NFT transactions on the Solana blockchain saw a massive spike.
Stand away from the crowd
The y00ts NFT project is the latest NFT project from the creators of Solana’s flagship group – DeGods. However, what makes this project unique is the property owned by its owners.
In a traditional NFT project, the IP address is usually owned by the NFT holder. What yOOts are trying to do is called Creative Commons or CCO. It is an alternative method of licensing intellectual property that allows the owner’s assets to be owned by the public.
This allows a yOO’s owner to develop affiliate communities or businesses based on the NFTs they own, as well as monetize the NFTs they own through fanart and affiliate DAOs.
However, the NFT market is not the only avenue in which Solana has dominated,
Solana has seen a 150% increase in her social media mentions and a 170.94% increase in her social engagements over the past three months. In light of the growing popularity of the NFT ecosystem, it seems that Solana’s popularity will increase in the future as well.
Although there is a lot of criticism of Solana for its many downtimes, it seems that the developers are working hard to fix these downtime issues.
Consider this – there has been a massive increase in developer activity over the past week, which indicates that the Solana team is working on upgrades and updates to improve the Solana system. However, SOL’s market capitalization has declined over the past seven days.
Advance with caution
Unfortunately, this is not the only reason for investor concern. SOL’s volume is down -66.92% in the past week, and its dominance over market capitalization has fallen by 4.92% in just over a month.
The massive drop in volume may be a red flag for investors considering investing in SOL.
Solana has been heavily criticized in the past for stopping work. However, thanks to the new partnership With the helium network growing in NFT space, the tide may turn in Solana’s favor.
It remains to be seen if this latest development can have a positive impact on Solana.