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In the latest news from the world of non-fungible tokens (NFTs), the Solana network recently experienced a shutdown. Still, it is now back up and running. The team behind Solana is currently investigating the cause of the problem. This downtime negatively impacted the value of Solana’s own currency, SOL, and the trading volume of trending NFTs on Solana.
Before this incident, Solana was a strong NFT contender and often competed with Bitcoin for the second spot on the charts. It even overtook Bitcoin several times, with its daily NFT trading volume hovering around $7 million.
As we know, in the crypto world, someone’s loss is someone’s gain. An emerging NFT crypto coin called NuggetRush has taken everyone by surprise. It is currently the most popular NFT platform and has raised over $2.3 million in its ongoing presale.
What’s going on with NFT sales in Solana
Solana, a blockchain platform that facilitates the creation of unique digital assets called NFTs, witnessed a significant drop in its trade volume. In just one day, the trade volume plummeted by nearly 44%, bringing it down to $712,096. As a result, Solana now ranks sixth in terms of NFT trade volume.
On the other hand, Bitcoin has regained the second spot in the NFT trade volume, with close to $8 million in trades, and is just behind Ethereum. Meanwhile, Polygon holds the third position with $1.3 million.
Despite a 31% fall on the weekly leaderboard, Solana still holds the third position with $34.9 million in NFT trades. However, this is quite a bit behind Bitcoin, which saw $64.3 million in trades. Looking at the bigger picture, Solana’s NFT trade volume has decreased by 32.5% over the last month, trading at $212.3 million and currently ranked third.
Solana’s NFTs are unique digital assets representing ownership over items or content. Unlike traditional cryptocurrencies like Bitcoin or Ethereum, Solana’s NFTs are distinct and can’t be swapped equally. Thus, each Solana NFT is unique, making it sought after in various sectors such as art, music, and gaming.
Solana’s high-speed transaction capabilities, which can complete thousands of transactions every second, make it an ideal platform for NFT marketplaces, ensuring users can trade quickly and smoothly. Moreover, Solana’s low transaction fees compared to other blockchains make it a popular choice among NFT creators looking to save on costs.
NuggetRush receives favorable reviews from presale investors
Nugget Rush is a unique crypto gaming platform that allows earning real gold while playing the game.
The project is in the last presale round, and NUGX is available for $0.018.
It has an online gaming marketplace where you can check out the tools required in the game and other unique items. You can exchange the assets you mine for rewards like real gold.
Thanks to features like P2E gaming and NFT staking, this cryptocurrency has raised over $2.3 million from investors so far. With the staking feature, you can maximize your returns and get an extra 20% yearly return.
The NFT marketplace allows you to create, trade, and exchange NFT items easily. You can also create your custom avatars on their online platform for fun. There are no taxes charged while buying or selling NFT collections.
Additionally, you can get governance tokens to have rights in future developments after you join the Rush Guild on their platform.
Conclusion
While Solana NFT sales volume has dropped significantly, NuggetRush has sealed the spotlight this month. It is an NFT gaming platform whose presale is ongoing.
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Source: https://crypto.news/solana-nft-sales-volume-drop-nuggetrush-crosses-2-3m-in-presale/