- Traders expect a second bullrun in Solana, the altcoin targets $276.
- Moonrock Capital acquires 13th rarest Ape from the Degenerate Ape Academy collection for $1.1 million.
- Top two NFT collections, Degenerate Ape Academy and Aurory Project on Solanart collectively reached 1 million SOL in trading volume.
The NFT ecosystem is shifting from Ethereum to layer 2 scaling solutions and Solana. SOL has emerged as Ethereum’s fiercest competitor, capturing NFT market share.
First Solana based NFT sold for $1 million, SOL continues upward climb
NFTs on Solanart, Solana’s largest non-fungible token marketplace are contributing to rising SOL on-chain activity.
Recently, Moonrock Capital, a Blockchain advisory and investment partnership firm acquired an NFT from the Degenerate Ape Academy NFT collection for a whopping $1.1 million. This is Solana network’s first million dollar NFT sale. The blockchain protocol continues attracting trending NFT projects.
Moonrock bought Degen Ape #7225, a zombie that is identified as the 13th rarest in the collection of 10,000 apes according to HowRare.is.
Moonrock Capital just acquired the 13th rarest @DegenApeAcademy NFT for 5980 $SOL ($1,109,170.40) pic.twitter.com/STkwJetRl1
— Moonrock Capital (@MoonrockCapital) September 11, 2021
When the Degenerate Ape Academy collection was first launched on August 16, 2021 on the Solanart marketplace, the altcoin hit a new all-time high of $63.33.
The entire collection was sold out within eight minutes and the altcoin’s market capitalization hit $17.75 billion for the first time. Since then, Solanart has triggered a consistent spike in daily trade volume of SOL.
Top two NFT collections on Solanart, Degenerate Ape Academy and Aurory Project have hit 1 million Solana in trading volume. Unique and trending NFT collections are lining up on Solana’s NFT marketplace, driving the demand for SOL higher.
Our two most "trendy" collections of the moment have collectively reached the 1,000,000 $SOL volume
— Solanart - NFT Marketplace (@SolanartNFT) September 4, 2021
Congratulations to @DegenApeAcademy and @AuroryProject for pulling up the ecosystem and highlighting NFTs on #Solana pic.twitter.com/wylzSUotYh
After hitting an all-time high of $213.47, Solana’s price has failed to budge and the ongoing rally is likely to be prolonged.
FXStreet analysts have evaluated the strength of the Ethereum-killer’s uptrend following the recent flash crash. The analysts’ bullish target for SOL is $276.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Is Altcoin Season here as Bitcoin reaches a new all-time high?
Bitcoin reaches a new all-time high of $98,384 on Thursday, with altcoins following the suit. Reports highlight that the recent surge in altcoins was fueled by the victory of crypto-friendly candidate Donal Trump in the US presidential election.
Shanghai court confirms legal recognition of crypto ownership
A Shanghai court has confirmed that owning digital assets, including Bitcoin, is legal under Chinese law. Judge Sun Jie of the Shanghai Songjiang People’s Court shared this opinion through the WeChat account of the Shanghai High People’s Court.
BTC hits an all-time high above $97,850, inches away from the $100K mark
Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.