Solana Becomes ‘Second-Largest Protocol’ by NFT Volume, Nearing $200? -Breaking
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Solana Becomes ‘Second-Largest Protocol’ by NFT Volume, Nearing $200?- With great results, Q1 2022 departs
- Messari published the Solana Q1 Growth Report.
- Solana could reach $200 bullish sooner than anticipated.
Solana is a big name in the crypto market, as it leaves Q1 2022 with an explosion. Solana managed to attract large investors and partnerships. The platform’s continued growth and enhancement of blockchain technology is responsible for this. Solana has been ranked second in NFT volume.
Messari, an online platform for crypto research and data tool, has published a growth report about Solana in the first quarter. According to this report Solana was cited as one the Layer-1 networks that has a fast growth rate. Its ability to attract billions in revenue from its infrastructures, such as Wormhole or Allbridge is just one example.
MESSARI
The network’s NFT and DeFi markets grew rapidly, which is another reason why it survived the bear market. This crypto-technology market contributed significantly to crypto’s current position.
CoinGecko is a strong indicator that Solana remains at the top of the market. With a market capitalization exceeding $28 billion, and an almost 2-billion daily volume in trading, it is a formidable player.
Source: CoinGecko
Solana is trading at an acceptable price of $80 per cryptocurrency as of the writing of this article. The decline rate for the last 24-hour has been nearly -12%. It is possible that this crypto price performance does not reflect well. It is possible that Solana will see a significant price increase due to the recent developments and ambitious partnerships.
SOL’s bullish price could rise to $150, despite the fact that Solana has billions invested and potential partnerships in the near future. If the bullish market favors Solana, it could even rise to $200.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. This article is not intended to be used as investment advice. CoinQuora advises its users to research cryptocurrency before making any investment.
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