Solana has overcome several technical and economic turbulences over the past few years. The blockchain project has received heavy criticism from investors and outsiders alike for its frequent outages. Meanwhile, the blockchain recently came under fire for its association with the disgraced crypto exchange FTX.
A Twitter account titled Solana Legend has recently come out in response to reflect on the potential of Solana’s NFT project. As per the tweet, Solana is currently the most affordable blockchain for NFT trading.
In comparison to the Ethereum network the smart contract deployment cost can reach as high as $5000 and above. However, at Solana, it starts at $30.
Solana vs. Ethereum
Solana community member has also interjected that the Solana network can also iterate faster in comparison to the Ethereum blockchain. He posted a thread mentioning that the innovations available at Solana are better than the Ethereum NFT market.
His thread shared the point that in terms of total transaction count, Solana was ahead of Ethereum. However, the NFT valued on Ethereum has significantly higher prices. On the other hand, the amount of transactions per wallet on Ethereum is 10 times higher than the Solana blockchain.
Solana network has managed to salvage the majority of its value. However, several metrics have revealed the struggling state of the blockchain network in the realm of NFTs.
CRYPTOSLAM has issued a report that maintains that the sales volume at Solana underwent a 57% decrease during the last week.
On the other hand, the total market cap of Solana is currently estimated to be around $8.9 billion. Meanwhile, the per unit cost of the Solana token is set at $23.58. The cryptocurrency price tracker has reported a 12% positive movement in the native token SOL during the last 7 days.