Try Quests to earn SOLOpen Analytics Bounty; ETH vs. Solana
What is Ethereum?
Ethereum is a blockchain-based computing platform that enables developers to build and deploy decentralized applications—meaning not run by a centralized authority. You can create a decentralized application for which the participants of that particular application are the decision-making authority.
Ethereum was conceived in 2013 by programmer Vitalik Buterin. Additional founders of Ethereum included Gavin Wood, Charles Hoskinson, Anthony Di Iorio and Joseph Lubin.
Source: simplilearn
What is Solana?
Solana is a public, open-source blockchain that supports smart contracts, including non-fungible tokens (NFTs) and a variety of decentralized applications (dApps). Native to Solana’s blockchain is the SOL token which provides network security through staking as well as a means of transferring value.
Solana was created in 2017 by Anatoly Yakovenko alongside current Solana board member and Chief Operations Officer Raj Gokal. Yakovenko, now Solana Lab’s CEO, came from a background in system design and wanted to apply his knowledge toward a new blockchain paradigm that enabled faster processing speeds.
Source: blockworks
Methodology
In this dashboard, we compare two blockchains, Ethereum and Solana, in terms of buying and selling NFT. For this purpose, we use the ethereum.core.ez_nft_sales, solana.core.dim_nft_sales and solana.core.dim_nft_metadata tables available on the flipside. To get the dollar price of Solana NFTs, we use ethereum.core.fact_hourly_token_prices table to get the price of each SOL Token in dollars.
Metrics:
PART1. Overview of NFT Status [Ethereum vs Solana]
- Total Number of NFT Marketplaces [Ethereum] - 2022
- Total Number of NFT Marketplaces [Solana] - 2022
- Total Number of NFTs [Ethereum] - 2022
- Total Number of NFTs [Solana] - 2022
- Total Number of NFT Collections [Ethereum] - 2022
- Total Number of NFT Collections [Solana] - 2022
- Total Number of NFT Sales [Ethereum] - 2022
- Total Number of NFT Sales [Solana] - 2022
- Total Number of NFT Sellers [Ethereum] - 2022
- Total Number of NFT Sellers [Solana] - 2022
- Total Number of NFT Buyers [Ethereum] - 2022
- Total Number of NFT Buyers [Solana] - 2022
- Total Volume of NFT Sales [Ethereum] - 2022
- Total Volume of NFT Sales [Solana] - 2022
- Average of NFT Price [Ethereum] - 2022
- Average of NFT Price [Solana] - 2022
PART2. Marketplaces Status [Ethereum vs Solana]
- Total Number of NFT Sales on Ethereum Marketplaces
- Total Number of NFT Sales on Solana Marketplaces
- Total Number of NFT Collections on Ethereum Marketplaces
- Total Number of NFT Collections on Solana Marketplaces
- Total Number of NFTs on Ethereum Marketplaces
- Total Number of NFTs on Solana Marketplaces
- Total Number of NFT Buyers on Ethereum Marketplaces
- Total Number of NFT Buyers on Solana Marketplaces
- Total Number of NFT Sellers on Ethereum Marketplaces
- Total Number of NFT Sellers on Solana Marketplaces
- Total Volume of NFT Sales on Ethereum Marketplaces [USD]
- Total Volume of NFT Sales on Solana Marketplaces [USD]
- Average NFT Price on Ethereum Marketplaces [USD]
- Average NFT Price on Solana Marketplaces [USD]
PART3. Collections and Marketplaces Status [Ethereum vs Solana]
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Total Number of NFT Sales on Ethereum by Collection - Last Month
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Total Number of NFT Sales on Solana by Collection - Last Month
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Total Number of NFT Buyers on Ethereum by Collection - Last Month
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Total Number of NFT Buyers on Solana by Collection - Last Month
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Total Number of NFT Sellers on Ethereum by Collection - Last Month
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Total Number of NFT Sellers on Solana by Collection - Last Month
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Total Volume of NFT Sales on Ethereum by Collection - Last Month
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Total Volume of NFT Sales on Solana by Collection - Last Month
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Average Price of NFTs on Ethereum by Collection - Last Month
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Average Price of NFTs on Solana by Collection - Last Month
Findings
> Note: The data of this section is from January 1, 2022.
There are 7 NFT Marketplaces on Ethereum and Solana. Among the most famous Ethereum marketplaces are Opensea and x2y2. And on Solana, there are famous marketplaces such as Magic Eden and Solana Art. The Opensea platform exists on both Ethereum and Solana.
The total number of NFTs on Ethereum blockchain is 0.872 million and on Solana blockchain is 1.69 million NFTs. The total number of Solana NFTs is 48% more than Ethereum.
The total number of collections on the Ethereum blockchain is 29 thousand and on Solana is 1058. The number of Ethereum collections is 26 times more than Solana.
The total number of NFT sellers and buyers on Ethereum is 1.054 million and 1.386 million. There are 452 thousand sellers and 350 thousand buyers on Solana. The number of NFT sellers on Ethereum is 133 times more than Solana. And the total number of NFT buyers on Ethereum is 296 times that of Solana.
15.06 million NFTs worth $154.1 million were sold on Ethereum, while 3.74 million NFTs worth $24.8 million were sold on Solana.
The total number of NFT sales on Ethereum from January 1, 2022 to today is 302 times more than Solana. The sales volume is 521 times more than Solana.
The average NFT price on Ethereum is $8 and on Solana it is $0.2. However, Ethereum is more popular among sellers, buyers, and developers.
Findings
> Note: The data of this section is from January 1, 2022.
Opensea and x2y2 platforms are the leaders in the Ethereum blockchain. While Magic Eden platform is leading on Solana. The Opensea platform is also present on Solana and is in second place.
The total number of NFTs sold by the Opensea platform on Ethereum is 14.22 million NFTs worth $27 million. The total number of NFTs sold by the Magic Eden platform on Solana is 3.29 million NFTs worth $19 million. The Opensea platform has sold 322 times more than the Magic Eden platform.
The total number of sellers and buyers on the Opensea platform on Ethereum is equal to 1 million and 1.35 million. On the Magic Eden platform, the total number of sellers is 347 thousand and buyers are 298 thousand.
The total number of NFT collections on Opensea Ethereum is 27.3 thousand, on Opensea Solana it is 444. There are 1700 collections on the largest NFT Solana platform. It means that Opensea Ethereum collections are 1488 times more than Magic Eden Solana.
The largest volume of NFT sales on Ethereum has been sold by the Sudoswap platform. almost $104 million worth of NFTs have been sold on Ethereum by Sudoswap. On the Solana platform, Magic Eden has sold almost $22 million NFTs.
The Solana Monkey platform has a sales volume of over 1.1 million dollars and is on the second place in the Solana blockchain.
On the SudoSwap Ethereum platform, the average price of each NFT is $598. The Rarible platform has a lower average price compared to other Ethereum platforms. The average price of each NFT on the Rarible Ethereum platform is $0.9.
The average price of each NFT on the Solana Monkey platform is $19. The lowest NFT price on the Solana blockchain on the Magic Eden platform is $0.2.
Findings
> Note: > > The data of this section is for the last 30 days.
315 NFTs from the ArtBlock Collection worth $26.3 million have been sold on the Ethereum Opensea platform in the last 30 days.
661 NFTs from the Kereks Collection worth $1120 have been sold on the Solana Magic Eden platform in the last 30 days.
180 buyers have chosen NFTs of the ArtBlock Collection, which is on the Ethereum Opensea platform, for purchase. 279 buyers have also chosen Collection Kereks NFTs on Magic Eden Solana platform for purchase.
A total of 415 sellers are selling NFTs of two collections, Art Block and Rariable, on the Ethereum Opensea platform. A total of 435 sellers sell NFTs from two collections, Kereks and Predictooos, on Magic Eden Solana platform.
Bored Ape Yacht Club Collection has sold $26.7 million for 9 NFTs on the Ethereum Opensea platform. While the most expensive collection on Magic Eden Solana platform is related to Kereks, which sold 518 NFTs for a total of $1,120.
Conclusion
In this dashboard, we compared two blockchains, Ethereum and Solana, in terms of the NFT market to see which blockchain is the leader in the NFT market. We found that the largest number of sellers and buyers and developers have chosen the Ethereum blockchain. The number and volume of NFT sales on the Ethereum blockchain is much higher than that of Solana.
Some of the most important items we reviewed:
Total Number of NFTs [Ethereum]: 0.87M
Total Number of NFTs [Solana]: 1.69M
Total Number of NFT Collections [Ethereum]: 29K
Total Number of NFT Collections [Solana]: 1058
Total Number of NFT Sales [Ethereum]: 15.06M
Total Number of NFT Sales [Solana]: 3.74M
Total Number of NFT Sellers [Ethereum]: 1.054M
Total Number of NFT Sellers [Solana]: 452K
Total Number of NFT Buyers [Ethereum]: 1.386M
Total Number of NFT Buyers [Solana]: 350K
Total Volume of NFT Sales [Ethereum]: $154.1M
Total Volume of NFT Sales [Solana]: $24.8M
Average of NFT Price [Ethereum]: $8
Average of NFT Price [Solana]: $0.2
Opensea and x2y2 platforms are the leaders in the Ethereum blockchain. While Magic Eden platform is leading on Solana.
The total number of NFTs sold by the Opensea platform on Ethereum is 14.22 million NFTs worth $27 million.
The total number of NFTs sold by the Magic Eden platform on Solana is 3.29 million NFTs worth $19 million.
315 NFTs from the ArtBlock Collection worth $26.3 million have been sold on the Ethereum Opensea platform in the last 30 days.
661 NFTs from the Kereks Collection worth $1120 have been sold on the Solana Magic Eden platform in the last 30 days.