beginingCryptocurrenciesNFTsSolana Comes for Ethereum Crown as NFT Project Reaches New…

    Solana is coming for the crown of Ethereum as the NFT project reaches a new record

    Solana is fighting for Ethereum's crown as the battle for supremacy among smart contract platforms rages on. Although Ethereum continues to lead the pack in this regard, this has not discouraged others that are growing rapidly from stealing market share from it. Solana is without a doubt the most powerful of these contenders, especially with the growth of its NFT space.

    These NFTs are doing quite well on the network, attracting millions of new users to the Solana blockchain. Ethereum remains ahead in terms of volume, but it looks like that may not be for long as some Solana NFT projects are breaking records.

    OK, the bears are in

    Okay Bears NFT it was like any other NFT launch on the Solana network. There was a whitelist that allowed those who were whitelisted to easily copy NFTs on mint day. However, this unassuming project would prove to be a game changer for the Solana network as it quickly grew in popularity and returned one of the largest NFT volumes in history.

    Launching a collection of 10,000 unique NFT profile pictures, Okay Bears had seen a coin price of $145 per piece. However, once these NFTs have reached the secondary market, it will completely change the way NFTs are seen on the Solana blockchain.

    Interest in Okay Bears grew and within 24 hours saw over $18.4 million in trading volume. With this, the NFT collection broke records set by incredibly popular collections on the Ethereum network.

    Solana price chart from
    SOL is trending at $96 | Source: SOLUSD on

    It set the record for Solana's highest single-day sales. This volume meant it beat Vee Friends, an NFT collection on the blockchain network that had a volume of $13.1 million, and the popular Meebits at $11.9 million.

    Now, Solana has announced plans to introduce an exclusive marketplace for Okay Bears, titled Bear Market. There will also be member-only NFT discounts and other benefits for Okay Bears owners. Very similar to the benefits enjoyed by Bored Ape Yacht Club (BAYC) members.

    Solana works with Ethereum

    The actual volume of different smart contract platforms continues to grow. Ethereum remains a natural leader in this regard. However, other smart contract platforms like Solana are still in play. These networks, which are significantly younger than Ethereum, have been losing market share for some time.

    Solana's real volume put it ahead of other top competitors like Cardano. It is now the third largest smart contract network by real volume with $310 million. Following Ethereum and Terra with $2.46 billion and $506 million respectively.

    On the market capitalization front, it remains a leading contender. Solana is currently ranked 6th in the list of top 10 cryptocurrencies by market capitalization with a market cap of $32.66 billion. The digital asset is currently trading at $97.84 at the time of writing.

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