Reasons why Solana NFTs may have something more in store this bear season

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According to data from analytics platform Santiment, Solana [SOL] reached 1.65 million in NFT sales as of 26 September. This was the highest it stood at in September. However, can Solana’s growth in the NFT space keep SOL afloat? As can be seen from the image below, Solana’s NFT’s volume has been growing steadily over […]

. The platform witnessed 1,219,289 of Solana NFT’s releases over the past week. This can be taken as another sign of growth for Solana’s marketplace.Despite everything going all sunny for Solana, there were some alarming factors to look out for as well. The number of traders, buyers, and sellers witnessed a steep decline in their activity levels over the past few days. This could be perceived as a bearish indicator by some investors.

SOL’s currently trading at $32.72 at the time of writing and surged by 7.2% in the last 24 hours. Furthermore, its volume depreciated by 64% over the past seven days. However, Solana’s marketcap dominance witnessed a surge and saw an impressive spike of 7.49% over the last week. Solana happens to be responsible for 1.16% of the total crypto market share. Although Solana’s volatility has been on the decline, readers are advised to be cautious before entering into a trade.could be a good start for investors to get a better understanding of what the future looks like for SOL.Subscribe to get it daily in your inbox.

 

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