As Solana prepares to potentially climb to $500 and Ethereum faces challenges from declining NFT sales, investors are looking for new avenues to maximize profits. Enter Furrever Token, a charming newcomer to the crypto space offering both appeal and substantial returns. With an exclusive 25% bonus on new purchases, Furrever Token is positioned to enhance your portfolio and inject joy into your investment journey. Don't miss this opportunity to boost your crypto assets thanks to the irresistible appeal of Furrever Token!
NFT Market Record: Ethereum Leads Amid Declining Sales
Over the past week, NFT sales fell 7.03%, reaching $122.3 million. Ethereum leads with $37.06 million in sales, down 11.66%. Bitcoin followed with $28.54 million, a decline of 10.83%. Solana NFTs gained just over $19 million, while Polygon jumped 29.04%, reaching around $15.54 million.
The top-selling NFTs included Azuki #3,374 from Ethereum, for $393,112, followed by an Ordinal listing from Bitcoin, selling for $305,258. In collections, unclassified Ordinals are in the lead with $8,619,161 in sales, despite a drop of 16.25%. Immutable X's Guild of Guardians saw a 23.27% increase, reaching $5.73 million in sales.
Nonetheless, the overall trajectory of NFT sales appears uninspiring, as blue-chip NFT stocks are seeing a notable slowdown from their zeniths. The sustained decline in recent months suggests a slowdown in expansion compared to historical trends. Despite the prevailing market sentiment, some collections such as Guild of Guardians are showing resilience, indicating latent opportunities amid a widespread downturn.
Solana's journey: aiming for the heights
Despite recent price stagnation around $167.12, Solana (SOL) holders remain optimistic, eyeing a potential rise to $500. SOL's correlation with Bitcoin (BTC) stands at 0.83, indicating parallel price movements, while its divergence with Ethereum (ETH) suggests independence. Low social dominance, currently at 4.938%, historically signals a buying opportunity, especially with Open Interest (OI) falling to $807.25 million, potentially setting the stage for a rally from $161 to $168. Solana's total value locked (TVL) stands at $4.80 billion, with a recent increase of 20.27%, indicating growing confidence in the network despite recent withdrawals. As stablecoin circulation increases on Solana, suggesting increased purchasing power, the potential for SOL to exceed $500 remains compelling, especially if TVL reaches $8 billion.
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