$SOL posted significant gains in April, but concerns over the network’s slow on-chain growth are something bullish traders have to take into consideration.
While the mobile launch positively boosts the Solana ecosystem, the Saga phone appears overpriced at over $1,000 apiece. Nevertheless, the smartphone received positive reviews in user experience and quality.that “Saga-exclusive dApps, games, and rewards as the phone ships globally, which will also make it easier to justify the $1,000 premium price.” It remains to be seen how the Solana Foundation leads the marketing efforts for the phone against existing giants like Samsung and Apple.
Solana’s market share in NFT trading rose from 6% to 14% of total NFT sales volume in less than a year by February 2023, according to a Delphi Digital“The Solana NFT ecosystem is driven by traders who are more financially incentivized and trade a lot more often compared to Ethereum NFT users.” However, the NFT trading volumes have declined since February 2023 below the November 2022 level, which is a discouraging sign.
The Solana ecosystem's growth in NFT trading volumes has been impressive, but it has declined since February 2023, and the smart money activity has compressed significantly.
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