Try Quests to earn cryptoSolana NFT Growth
In this analyze, You will read all about NFTS growth on Solana blockchain. I went through that and examined these metrics:
- Total mints and growth rates of mints over time
- Total NFT sales and growth rates of sales over time
- Total unique wallets that have minted or purchased a Solana NFT and growth rates over time
- Total Unique Signers of Metaplex programs
- Total minters of NFTs using Candy Machine V1 and total minters of NFTs using Candy Machine V2
- Total users of Metaplex's Auction House program
- Compare these metrics with NFT activity on Ethereum
- Trends on Ethereum and Solana network
All data from this analysis is in the last 6 month.
Solana is already one of the world's most popular blockchains when it comes to non-fungible tokens (NFTs) and decentralized finance (DeFi). It's currently ranked as the fourth-most popular cryptocurrency globally, and there's no question that interest in Solana NFTs, in particular, is heating up.
I gathered data from Solana fact mints and sales table. I examined each parameter in two types.
- Total weekly or monthly
- Cumulative weekly or monthly
The below chart proves my theory. They are too many positive growth rates in the below weekly chart. The highest rate happened on December 6th with 67% growth. Also, we can see there are four weeks that growth is above 30%.
The blow chart shows the total monthly sales and monthly cumulative sales in the last 6 months. The total sales have a better chart in comparison to the total mints. As you can see from December until January the total sales tripled in a month. In February, Solana kept its growth and almost doubled in comparison to the month before. We are at the beginning of May, So I predict the growth will increase this month too.
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The below chart shows the total monthly mints and mints growth over the last 6 months. As you can see Total monthly mints decreased from January 2022, until April. We don't know exactly what will happen in May, So we ignore May in our analysis.
The growth from December 2021 was amazing for the Solana network until February. After that, the growth increased slowly. Solana Mints increased by More than 110% in January.
The below chart shows the weekly growth rate. In the first week of December, Solana mints faced 48% growth in comparison to the last week. On February 28th, the total mints increased by about 31%. In total, the growth happened slowly. There are too many ups and downs in this chart.
I think the important parameter for every Platform is unique users. In these charts, we can see total mints and sales for unique users. The growth of both categories happens too fast. Altought between March and April the growth increased slowly.
The below chart shows the percentage of mints and sales unique users in comparison to the week before in the last 6 months.
Since the last week of December 2021, the Usage of Cany Machine V2 increased super fast and was replaced with Candy Machine V1.
So far, We went through Solana NFTs, But it's time to compare Solana numbers with Ethereum blockchain.
There are two main facts that we have to consider in our analysis.
- Ethereum NFTs Existed a long time before Solana. It means Ethereum passed its hype in our time period.
- Ethereum NFTs platforms are bigger than Solana platforms.
But these facts don't mean that we can not compare these blockchains together. In these analyses, we should focus on growth and growth rate. Let's back to the charts.
The below chart shows the total weekly purchaser and cumulative purchaser on Ethereum and Solana. As You can see the growth for Ethereum is higher than for Solana. Total purchaser increased in both platforms but Solana increased slowly in comparison to Ethereum. from November 29th until May 2nd, Solona's total unique purchaser growth is about 6000% and Ethereum in exact time is 900%. It is true that the Solana growth increased slowly but the percentage shows different thing.
The below charts compare total sales and cumulative sales on Ethereum and Solana in the last 6 months. In comparing the previous chart, The difference between Solana and Ethereum is lower than the previous parameter. let's calculate the total sales growth rate. From November 29th,2021 until May 2nd, 2022, Ethereum sales growth is 941% and Solana's Sales growth rate is about 5000%. The growth rate is similar to the total unique users on both blockchains.