By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoCommunityCryptoCommunity
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • BTC
  • ETH
  • USDT
  • USDC
  • BNB
  • BUSD
  • ADA
  • XRP
  • SOL
  • DOGE
  • DOT
  • MATIC
Reading: Who Shines Brighter? Solana Beats Ethereum In This Key Area
Share
Aa
CryptoCommunityCryptoCommunity
Aa
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
CryptoCommunity > Blog > crypto > Who Shines Brighter? Solana Beats Ethereum In This Key Area
crypto

Who Shines Brighter? Solana Beats Ethereum In This Key Area

admin Published October 14, 2022
Last updated: 2022/10/14 at 5:16 PM
Share
SHARE

[ad_1]

Solana fell into a four-month low of $28.35 during the early morning of October 13, plummeting below the $30 marker again for the first time since June 13 when it changed hands at $28.19.

Contents
Solana Beats Ethereum In NFT SpaceHaunted By Mango Hack

Although the altcoin is not just the only one that suffered as many other cryptocurrencies including pack leaders Bitcoin and Ethereum painted their charts in red, SOL was hit the hardest.

The crypto, however, was able to trim its losses, moving back above the $30 range. At press time, tracking from Coingecko shows the asset is trading at $31.36.

Despite the rebound, Solana is still down by 5.9% over the past 7 days and is second to Cardano in terms of losses during the same time period among the top 10 cryptocurrencies in terms of market capitalization.

But despite being hit hard by price correction, Solana was able to surpass the king of all altcoins, Ethereum, in a category that may surprise a lot of people involved in crypto space.

Solana Beats Ethereum In NFT Space

Solana increased its non-fungible tokens (NFT) sales over the last 30 days by 100%, beating other blockchains including Ethereum.

According to data shared on social media by Solana Daily, SOL ranked 2nd, placing behind Immutable (IMX) in terms of NFT sales growth over a period of one month.

✨ Top Blockchains by NFT Sales Growth Last 30D#ETH @ethereum -17%#SOL @solana +100% 🚀🚀🚀#FLOW @flow_blockchain +36%#IMX @Immutable +112%#BNB @binance -26% pic.twitter.com/BPpp4aECkz

— Solana Daily (@solana_daily) October 12, 2022

IMX was able to increase its sales by 112%. Meanwhile, Flow Blockchain was able to register a 36% increase.

Ethereum performed poorly in the department, as its sales growth during the period was -17%. Binance was another network that had negative growth with its -26%.

In addition, Solana was also included in the top 10 trending cryptocurrencies according to searches made on Coingecko.

Incidentally, it is the only one among the top 10 digital currencies in terms of market cap to make the trending list, leaving out bitcoin and ethereum.

Haunted By Mango Hack

Although Solana was able to score victories over its fellow cryptocurrencies in other departments, its chart remained painted in red and was -10% in terms of weekly gains.

One potential reason for this poor showing could be the recent hacking of the Mango DeFi project built on the Solana blockchain.

We will be disabling deposits on the front end as a precaution, and will keep you updated as the situation evolves.

If you have any information, please contact blockworks@protonmail.com to discuss a bounty for the return of funds. 2/

— Mango (@mangomarkets) October 11, 2022

Hackers were able to gain significant number of loans from the company treasury after exploiting Mango’s collateral. Initial assessment placed losses to over $100 million.

In addition, last week, Solana’s development activity witnessed a decline which casted the impression of lesser efforts from developers to improve the network.

SOL total market cap at $11.26 billion on the daily chart | Featured image from WallpaperAccess, Chart: TradingView.com



[ad_2]

You Might Also Like

How to earn bitcoins fast

How to Tell If a Cryptocurrency is a Scam or Not

Tips to Avoid Losing In Cryptocurrency Trading

How to Sell Products Online with Bitcoins – The Ultimate Guide

Get a Cryptocurrency Trader Certification to Get Ready For The Big Game!

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
admin October 14, 2022
Share this Article
Facebook TwitterEmail Print
Share
Previous Article Dogecoin Can Recover If DOGE Extricates Itself From This Level
Next Article Quant Holds Gains When Top Cryptos Plummet Following BTC

Latest News

earn bitcoins fast
How to earn bitcoins fast
crypto
Cryptocurrency is a Scam or Not
How to Tell If a Cryptocurrency is a Scam or Not
crypto
Losing In Cryptocurrency Trading
Tips to Avoid Losing In Cryptocurrency Trading
crypto
Sell Products Online with Bitcoins
How to Sell Products Online with Bitcoins – The Ultimate Guide
crypto

You Might also Like

earn bitcoins fast
crypto

How to earn bitcoins fast

4 Min Read
Cryptocurrency is a Scam or Not
crypto

How to Tell If a Cryptocurrency is a Scam or Not

8 Min Read
Losing In Cryptocurrency Trading
crypto

Tips to Avoid Losing In Cryptocurrency Trading

6 Min Read
Sell Products Online with Bitcoins
crypto

How to Sell Products Online with Bitcoins – The Ultimate Guide

5 Min Read

Crypto Community

  • Home
  • Crypto Calculator
  • Blog
  • Contact Us
  • Privacy Policy
  • Disclaimer
  • Terms and Conditions

Real time Cryptocurrency

  • Crypto Prices
  • Dogecoin price
  • Shibainu coin price
  • Bitcoin Price
  • Cardano Price
  • Litecoins Price

Cryptocurrency Price USD

  • Bitcoin price USD
  • Ethereum price USD
  • Tether price USD
  • BNB Price USD
  • Cardano Price USD
  • Solana Price USD
  • Peps coin Price USD
  • floki inu Price USD
  • SIA coin Price USD
CryptoCommunityCryptoCommunity
Follow US

© 2022 Cryptos Community All Rights Reserved. All logos and images used on this website are registered trademarks of their respective companies. All Rights Reserved. Cryptos Community is not liable for inaccuracies, errors, or omissions found herein. For the removal of copyrighted images, trademarks, or other issues, Contact Us. 


Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?