Crypto research and analytics platform Messari took to Twitter earlier today. witherA post sharing that (SOL) is experiencing a notable increase in daily NFT transactions shared. According to the post, Solana’s NFT transactions have doubled in the last 30 days alone.
Messari added that Solana’s NFT success can be attributed to increased activity with consumer applications. As a result, Solana has managed to outperform both Ethereum (ETH) and Polygon (MATIC) in terms of NFT trading volume.
To Solana’s success in NFT, altcoinThe price of . was accompanied by a decent increase in the last 24 hours of trading. Crypto market monitoring platform CoinMarketCap stated that SOL was trading at $15.85 after the coin posted a price increase of more than 6% the past day.
This increase in price was enough to push SOL’s Price weekly performance further green despite a tough week in the market. At the time of writing, SOL has increased by approximately 13.07% in the last seven days.
It should also be noted that although New York-based digital asset platform Bakkt has decided to delist SOL, MATIC, and ADA, the price of SOL is still rising. This came in response to regulatory uncertainty and recent SEC lawsuits against multiple crypto exchanges.
In related news, SOL failed to reclaim CoinMarketCap’s #9 position among the largest crypto projects by market cap. Ethereum rival lost its place to TRON (TRX) last week. However, SOL still has a chance to reclaim its position from TRX in the next few weeks.
SOL’s market cap is estimated to be around $6.137 billion. Meanwhile, TRX has a market cap of approximately $6.406 billion. The margin between the two market caps has narrowed over the past 24 hours as TRX has only been able to gain 1.62% in the last 24 hours.