Solana has managed to point out positive gains even during the crypto crisis within the second quarter of 2022. While the broader market drawdown has been prevalent across the whole market, Solana has retained users and activity from the previous quarter.
The SOL token, however, has fallen run over 64% from its all-time high (ATH) of $258.93.
Here we go
The latest data from Solscan has thrown light on these updates of the Solana network. The daily active addresses on Solana have shown a surprising increment since the ATH in November 2021.
Furthermore, unique addresses on Solana peaked at 697.8k during the November rally. These numbers increased over time and surpassed the 850k mark on 14 July. Not only has Solana retained old users, but it’s also been attracting new users from the industry.
User transactions on Solana have seen a dip of over eight million transactions. as compared to other Layer-1 chains, Solana has fared well in retaining users. this is often partly to Solana’s developing ecosystem which has improved radically in recent months.
Not stopping here
Solana users have more reasons to be joyous during this relief period. The network is about to launch the Tomorrowland NFT collection. If you don’t realize it yet, Tomorrowland is one in every of the world’s biggest music festivals.
1/ One of the world's biggest music festivals dropped an NFT on Friday, why's that important?@tomorrowlandnft 's venture into Solana NFTs is the catalyst we all need to onboard more people into Web3 and here's why 🧵 pic.twitter.com/vQgBfi9xyo
— Magic Eden 🪄 (@MagicEden) July 17, 2022
Tomorrowland’s “The Reflection of Love” collection aims to bridge the gap between Web2 and Web3. As per the discharge tweet,
“It (the collection) empowers holders to exchange their NFTs into an in-real-life utility with inherent financial and social value.”
Buying one NFT from each of Tomorrowland’s collections allows a user to make a medallion. The medallion then allows the user to be in an “exclusive” member list for all upcoming ticket drops for keeps.
Checking the Solana NFT world
The Solana NFT market continues to fall behind the might of Ethereum’s grip at the helm of NFT blockchains. However, Solana has received an affordable 6.28% upturn in fortunes over the past week. Much of this is often attributed to the general recovery of the NFT markets.
However, on the opposite hand, Ethereum continues to dominate NFT markets with its raft of major collections including BAYC, CryptoPunks, and Otherdeed.
Well, Solana had just four participants within the top 50 NFTs by sales volume within the past week. it’ll be interesting to work out how Solana fares after its latest launch.
People also interested: The easiest CoinEx sign-up guide for beginners
