Ethereum stays the dominant platform for NFTs, however rising rival Solana is placing up a battle as new initiatives draw extra consideration and main marketplaces embrace the community. And over the past day, a brand new Solana NFT mission has generated extra buying and selling quantity than any Ethereum one.

Okay Bears, a Solana-based profile image mission spanning 10,000 distinctive avatars, launched yesterday at a mint worth of 1.5 SOL (about $145) per NFT. Secondary market gross sales shortly surged, sending the worth of the gathering hovering and producing tens of millions of {dollars}’ value of buying and selling quantity.

Based on information from main market OpenSea, Okay Bears is the top-traded assortment that it tracks, beating an array of distinguished Ethereum collections. {The marketplace} exhibits 187,543 SOL value of secondary buying and selling over the past 24 hours, or about $18.4 million value at Solana’s present worth. That covers your complete market, not simply gross sales on OpenSea itself.

Offered out. We ARE Okay 👌🐻

— Okay Bears (@okaybears) April 26, 2022

Examine that to 4,565 ETH ($13.1 million) value of buying and selling for Gary Vaynerchuk’s new VeeFriends V2 launch over the past 24 hours, in addition to 4,136 ETH ($11.9 million) in quantity for Yuga Labs’ recently-acquired Meebits and three,534 ETH ($10.1 million) for brand spanking new mission Imaginary Ones.

This seems to be the primary time {that a} Solana NFT mission has crushed particular person Ethereum initiatives when it comes to 24-hour buying and selling quantity. General, Solana NFT buying and selling quantity is up 216% over the previous 24 hours to $29.1 million, in line with information from CryptoSlam—however Ethereum sits at $104 million over the identical span (down 25%).

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Solana analytics platform ChainCrunch tweeted early this morning that Tuesday marked the one largest day ever for NFT buying and selling quantity on the platform. It was additionally the highest day for distinctive customers paying charges on the community, and essentially the most lively Solana apps in a single day, in line with ChainCrunch’s information.

Yesterday on Solana:
ATH for the variety of distinctive price payers🤯
ATH for the variety of applications (good contracts) used📈
ATH for the amount of NFT traded🚀
ATH for the variety of ATHs!!!🔥

— ChainCrunch (@chain_crunch) April 27, 2022

An NFT works like a deed of possession to a singular digital merchandise, together with issues like art work, profile photos, sports activities collectibles, and extra.

Okay Bears is paying homage to the favored Ethereum mission Bored Ape Yacht Membership, with animal-themed avatars that sport a randomized array of traits. As with the Bored Apes, the creators of Okay Bears plan to reward holders with future NFT drops and extra perks and advantages forward on an in depth roadmap.

Solana NFTs Now Heading to Rarible Following OpenSea Debut

As of this writing, the cheapest-available Okay Bears NFT is listed for 52 SOL on the highest Solana market Magic Eden, or about $5,100. Magic Eden likewise tweeted that it has seen document general NFT buying and selling quantity over the previous day.

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