Ethereum

Solana

Liberty

Drops

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Ethereum’s NFT trade volume experienced a decline last month, despite surpassing Solana.</li> 
 <li>ETH’s price fell by over 7%, with market indicators showing a bearish trend.</li> 
</ul>  
<p>Ethereum [ETH] has been somewhat overshadowed in recent months by Solana [SOL] in the NFT ecosystem.</p> 
<p>Yet, the recent trend has seen ETH outperform Solana in this area, prompting a closer look at Ethereum’s NFT ecosystem performance.</p> 
<h2 id="ethereum-outperforms-solana">Ethereum Outperforms Solana</h2> 
<p>Coin98 Analytics shared a tweet noting an intriguing development in the NFT space. It was revealed that Ethereum recorded the highest NFT sales volume in the past 30 days.</p> 
<p>Apart from ETH, SOL and Bitcoin (BTC) also made it into the top three on the list. Specifically, ETH’s organic NFT sales reached $137 million last month, while SOL and BTC’s figures were $101 million and $75 million, respectively.</p> 
<p>When examining DappRadar’s data, the top performing NFT collections of Ethereum were found to be Liberty Cats, Pudgy Penguins, and Bored Ape Yacht Club.</p> 
<h2 id="eth-s-nft-trade-volume-drops">ETH’s NFT Trade Volume Drops</h2> 
<p>However, data from Santiment painted a different picture, showing that ETH’s NFT trade counts fell significantly last month. In addition, its NFT trade volume in USD also decreased during the same period.</p> 
<p>Cryptoslam, an analytics platform focusing on NFTs, suggested that ETH NFT sales fell last month. According to their data, Ethereum’s NFT sales volume declined by 39% last month, with a similar downward trend in its number of sellers and NFT transactions.</p> 
<p>Despite this, the number of ETH NFT buyers did increase slightly during this period.</p> 
<h2 id="eth-s-market-status">ETH’s Market Status</h2> 
<p>Meanwhile, in the NFT space, ETH’s price fell by more than 7% last week. At the time of writing, ETH was trading at $3,258.75 with a market capitalization of over $391 billion.</p> 
<p>A look at the token’s daily chart will be key to finding out whether this bearish trend would continue or not. The technical indicator MACD showed a bearish crossover, and Ethereum’s Relative Strength Index (RSI) showed a downtick.</p> 
<p>The altcoin’s Money Flow Index (MFI) also moved south, suggesting that the chances of a sustained price decline were high. However, ETH’s fear and greed index had a reading of 39%, indicating that the market was in a “fear” phase. This could potentially signal an opportunity for a bull rally.</p>

Ethereum Outperforms Solana in NFT Sales Regardless of 7% Decline: A Look Inside

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