A period among investors “Ethereum killer” so-called in Solana (LEFT) things are not going well. With his astronomical rise, Solana became one of the keystones of the 2021 rally.
However, with the continuous outages in the blockchain network, crypto investors and developers started to abandon the project one by one. Recently, two NFT startups announced that they will exit the SOL network.
According to the chart released last week by crypto research firm Delphi Digital NFT once in sales Ethereum Competing with Solana, now lost its popularity.
.@solana is the #2 NFT Ecosystem by sales volume. pic.twitter.com/GqXqEGwIwF
— Delphi Digital (@Delphi_Digital) December 22, 2022
Ethereum (ETH) The monthly volume of NFTs sold on its network hovers around $400 million, compared to just $50 million on the Solana (SOL) network.
Yesterday, two of the notable NFT startups announced that they will no longer operate on the SOL network.
One of the ecosystem’s most important collectibles, y00ts and DeGods announced that they will switch to Polygon and Ethereum, respectively. The consecutive negative news had a negative impact on the SOL token.
Latest Situation in Solana (SOL)
Solana, which made candles last year, performed far worse than other altcoins in 2022. Since the beginning of the year, the average loss in altcoins has been around 60-65%, while the price of SOL has dropped 91%.
With the bad news coming to Solana, it is hovering around $11 which is the bottom level it dropped back in late November. If the SOL falls below this figure, which is expected to act as a critical support, it can sell up to the $9.50 level it faced in the first months of 2021.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!