by - Solana’s NFT ecosystem has seen growth over the past week
- Market indicators revealed an ongoing battle between bulls and bears
Solana Daily, a Twitter account that posts updates related to the Solana [SOL] ecosystem, recently revealed the developments that have occurred in Solana’s NFTs market over the past week.
For example, Magic Eden has launched its new Open Creator Protocol (OCP). This is a no-code solution that would enrich the utility of a token and customize the actions of the token.
Solana’s NFT Highlights (Week 50)
🔸@MagicEden launch of the Open Creator Protocol (OCP)
🔸MagicEden has partnered with @Bandaged
🔸@metaplex Royalty Update
🔸@Stepnofficial Genesis Shoebox Contest
🔸@DegenerateNews will be the first to hit the Magic Eden launch pad#SolanaNFTs @solana pic.twitter.com/cehRVZFLSP— Solana Daily (@solana_daily) December 10, 2022
Lily At Solana’s [SOL] Price prediction 2023-2024
Additionally, Magic Eden has partnered with Stripe to help the community trade NFTs more easily. Interestingly, Magic Eden also topped the list of top Solana marketplaces in terms of user growth last month. Mean Dao and Saber Labs complete the top 3.
Top Solana Marketplaces with User Growth Last Month@MagicEden@meanfinance@Saber_HQ@rarible@raydiumprotocol@MercurialFi@solendprotocol@dappradar #solana #NFT $SOL pic.twitter.com/LEfoBsXo3l
— Solana Daily (@solana_daily) December 9, 2022
More good news!
Santiment’s data revealed that apart from the aforementioned developments, SolanaThe NFT ecosystem has also seen growth in terms of volume. Its total number of NFT trades and its total NFT trade volume in USD increased last week.
Source: Santiment
According to DeFillama Data, Solana’s Total Locked Value (TVL) has also recorded an increase over the past two days. Interestingly, Solana ranked fourth on TVL’s top projects list.
⚡️Top projects by total value staked
December 9, 2022#Ethereum $ETH #ETH $ADA #BNBChain $BNB #BNB $SOL #Avalanche $AVAX #AVAX $POINT $MATIC #TRON $TRX #TRX $ATOM $ICP $CAKE $ALGO $NEAR #NEAR $FLOW $EGLDSource: @StakingRewards pic.twitter.com/iOEBu65L4p
— 🇺🇦 CryptoDep #StandWithUkraine 🇺🇦 (@Crypto_Dep) December 9, 2022
Solana recently announcement the launch of DVT-1, Saga’s development unit program, and gave early access to a limited group of developers. The new program gave developers access to an early pre-production version of Saga so they could build, test, and fine-tune it on real hardware.
Calling all developers!
We’re launching DVT-1, Saga’s Developer Unit Program, and giving early access to a limited group of developers
If you are committed to building the future of Web3 on mobile, join us and build
Reserve your DVT-1 at https://t.co/QigYQjmxgn
1/ out of 🧵 pic.twitter.com/81sh9qeFVj
— Solana Mobile (@solanamobile) December 9, 2022
All of these developments looked promising for the blockchain and had the potential to fuel a new bull run.
What should Solana investors expect?
However, things did not turn out favorably for Solana in terms of chart performance. FLOOR failed to please its investors as it only posted more than 1% weekly gains.
According CoinMarketCapAt press time, SOL was trading at $13.64 with a market cap of over $4.99 billion.
A look at SOL’s daily chart painted an ambiguous picture. A few market indicators were in favor of SOL while others suggested falling prices. The exponential moving average (EMA) ribbon, for example, revealed the market advantage of sellers. The Relative Strength Index (RSI) was also resting below the neutral mark, which was a bearish signal.
Nonetheless, the Moving Average Convergence Divergence (MACD) recorded a bullish crossover, giving investors hope for a price surge in the coming days. The Chaikin Money Flow (CMF) was also relatively up, which was a positive sign.
Source: Trading View
