Solana is experiencing a peak in the crypto world following its integration with the NFT marketplace. Solana announced its future integration with Coinbase Wallet and OpenSea, giving users the option to access their SOL wallets to buy, sell, and trade NFTs.
On April 2nd, the price of SOL hit $143.50, which is an 82% rally increase in 20 hours.
Solana’s sudden burst in price comes from Coinbase Wallet’s announcement of adding SOL and other tokens on March 18. The investors are excited to see Solana taking the giant leap into the NFT market to increase its worth and bring more users to its blockchain platform.
The NFT integration will surely bring more revenue to SOL because most users exist in the NFT world and it will also facilitate SOL users to use their Coinbase Wallet on OpenSea to buy NFTs without any complications.
Due to this integration, Solana has become one of the authentic blockchains in the industry for enabling users with many options. Solana’s plan to launch itself in the NFT marketplace has resulted in an increase of $216 million in NFT sales.
Solana’s Network on dapps increases through NFTs
Solana has been facing a lot of backlash due to its decreasing chart for dapps deposits since 2021. The blockchain has succeeded in increasing networks on dapps. On April 8, 2022, DappRadar data showed a sudden increase in users.
Orca, a Solana dapp, users increased by 203.08%, recording the highest user count among all. This is a huge achievement for Solana, and it establishes the blockchain’s strong position in the market.
Although SOL’s DApp deposits faced a decline this year as well, experts and Crypto analysts believe, right now, it is a temporary phenomenon that will pass as Solana slowly recovers itself in the market. The blockchain plans to facilitate decentralized apps (dapps) more in the coming future.
This NFT integration is a solution to every decline Solana has faced over the years. With record-breaking sales for NFTs, Solana is ready to kickstart in the crypto market again, gaining the confidence of the traders.
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Solana is now the fastest-growing NFT ecosystem in the world. Both DeFi and NFT marketplace have a strong network which will give promising results in the future for traders and investors.
Users can visit Solana Collections through OpenSea’s official website to buy NFTs through Solana Wallet, Phantom, or Glow.