Solana’s $500 Target & Ethereum’s NFT Decline: How Furrever Token’s 25% Bonus Can Boost Your Portfolio!

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NFT Market Check-In: Ethereum Leads Amidst Declining Sales

Over the last week, NFT sales dropped by 7.03%, hitting $122.3 million. Ethereum led with $37.06 million in sales, down 11.66%. Bitcoin followed with $28.54 million, a decrease of 10.83%. Solana NFTs earned just over $19 million, while Polygon surged by 29.04%, reaching about $15.54 million.

The top-selling NFTs included Azuki #3,374 from Ethereum, fetching $393,112, followed by an Ordinal inscription from Bitcoin, sold for $305,258. In collections, Uncategorized Ordinals led with $8,619,161 in sales, despite a 16.25% decrease. Guild of Guardians from Immutable X saw a 23.27% increase, reaching $5.73 million in sales.

Nevertheless, the overarching trajectory in NFT sales appears uninspiring, as blue-chip NFT values witness a notable downturn from their zeniths. The sustained decrease over recent months hints at a deceleration in expansion compared to historical trends. Notwithstanding prevailing market sentiment, certain collections such as Guild of Guardians demonstrate resilience, indicating latent opportunities amid the broader downturn.

Solana’s Journey: Aiming for the Heights

Despite recent price stagnation around $167.12, Solana (SOL) holders remain bullish, eyeing a potential surge to $500. SOL’s correlation with Bitcoin (BTC) stands at 0.83, indicating parallel price movements, while its divergence from Ethereum (ETH) suggests independence. Low social dominance, currently at 4.938%, historically signals a buying opportunity, especially with a decline in Open Interest (OI) to $807.25 million, potentially setting the stage for a rally from $161 to $168.

Solana’s Total Value Locked (TVL) sits at $4.80 billion, with a recent 20.27% increase, indicating growing trust in the network despite recent withdrawals. As stablecoin circulation rises on Solana, suggesting increased buying power, the potential for SOL to surpass $500 remains compelling, especially if TVL reaches $8 billion.

Boost Your Portfolio with Furrever Token’s 25% Bonus: Don’t Miss Out!

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