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01/11/2024

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NFT showdown: Polygon, Solana vie for top spot

Polygon and Solana jostle for top space in NFT sales volume. Solana and SOL are in the clear with more positive trends. In recent days, Polygon [MATIC] and Solana [SOL] have been competing for the 3rd and...

NFT showdown: Polygon, Solana vie for top spot
NFT showdown: Polygon and Solana vie for dominance in sales volume

  • Polygon and Solana jostle for top space in NFT sales volume.
  • Solana and SOL are in the clear with more positive trends.

In recent days, Polygon [MATIC] and Solana [SOL] have been competing for the 3rd and 4th positions in the Non-Fungible Token (NFT) sales ranking. How have they performed over the last 7 and 30 days?

Polygon goes above Solana in weekly NFT sales

A recent update from Polygon Today revealed that Polygon has now exceeded Solana in the weekly NFT sales rankings. This development holds significance as Solana has been consistently leading it in NFT sales volume for the past few months.

The recent surge indicates a notable shift for Polygon, which experienced a temporary decline in NFT sales volume discussions due to the increased popularity of Bitcoin Inscriptions and the introduction of new NFTs on the Solana platform.

How Solana and Polygon have fared in different timeframes

In the analysis of NFT sales volume over the past 30 days, Solana emerged as the third-highest performer. The data on Crypto Slam showed that Solana witnessed a substantial total volume of over $306 million during this period.

This marked a remarkable improvement of over 93%. Meanwhile, Polygon secured the fourth position in sales volume, reaching over $83.8 million. It also saw an increase of nearly 46%. Notably, Bitcoin and Ethereum took the lead in the 30-day chart, with sales volumes of over $876.7 million and $318 million, respectively.

Within the seven-day timeframe, Polygon claimed the third spot with sales of over $44 million. Also, it had the highest growth rate among the top networks at over 160% as of the latest data.

Solana, on the other hand, secured the fourth position in this timeframe with a sales volume exceeding $39 million.

In the last 24 hours, Solana maintained the third-highest volume, while Polygon occupied the fourth position. The latest figures reported sales volumes of $6.7 million for Solana and $5.6 million for Polygon at the time of this writing.

The trend of SOL and MATIC

An analysis of the timeframe charts for Solana and Polygon showed positive trends over the last two days. The SOL price trend, in particular, has shown a more sustained uptrend, extending over the past four days.

As of this writing, SOL was trading at around $103, reflecting a growth of over 1%. Notably, the recent upward movement has pushed its Relative Strength Index (RSI) line above the neutral line.

This marked a recovery from a previous decline that had pushed the RSI below neutrality.

Solana daily timeframe price trend

Source: Trading View


Read Solana (SOL) Price Prediction 2024-25


In contrast, MATIC initiated its recovery on 10 January with an 11.58% increase. The positive momentum has persisted, resulting in an additional 5% increase, and MATIC is currently trading at around $0.9.

Also, the recent uptick in its price has moved its RSI back above the neutral line, indicating a positive trend in its market sentiment.

Polygon daily timeframe price trend

Source: Trading View

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ORIGINAL SOURCE

https://ambcrypto.com/nft-showdown-polyg...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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