After several challenging weeks of price drop, Solana [SOL] rejoined the top 10 on January 22. A few aspects, like its arket capitalization and NFT ecosystem, saw growth. For instance, Solana Mobile recently announced the Saga Pass Cards, which could contribute to the expansion of Solana Mobile’s NFT space.
— Solana Mobile (@solanamobile) January 21, 2023
Introducing Saga Pass Cards.
Exclusively for Saga Pass holders.
Every week until launch, we'll deal a random card to your wallet.
When you're ready for Saga, play your best hand for unique rewards.
More details in the coming weeks.pic.twitter.com/9WfNGxHRXy
What’s the situation of Solana NFTs?
In its official announcement, Solana Mobile stated that new cards would be added to rotation every week. The first card will only be available to OG Saga Pass members, and Solana Mobile will distribute a random card to the user’s wallet each week until launch.
In addition, SOL disclosed that the Saga Pass Cards collection will soon be confirmed on MagicEden. Interestingly, SOL’s remarkable success in the NFT space was once again demonstrated a few days ago, when it ranked second on the list of the leading chains by NFT trading volume during the previous 30 days.
Last week, SOL’s total NFT trade counts and total NFT trading volume in USD rose, as did the data from Santiment.
A view at SOL
In the past week, Solana’s price followed the growth of its NFT ecosystem, increasing by approximately 5%. At the time of writing, SOL was trading at $24.68 with a market cap of almost $9.1 billion, according to CoinMarketCap. In addition, DeFiLlama’s data revealed that the network’s total locked value has increased steadily since the beginning of the year, which was encouraging.
During the previous week, Solana’s performance in terms of its metrics remained positive. The derivative market’s demand increased as its DyDx funding rate increased. The community’s trust in the network is also demonstrated by the recent increase in positive sentiments around SOL.
The sharp decline in SOL’s development activity was a negative indicator.
