BTC PULSE
No Result
View All Result
Play Now
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home NFT

Solana Soars in Q1: Remarkable Growth in DeFi, NFTs, and GameFi Verticals

by BTCPulse
Apr 29, 2023 - 7:06 pm
in NFT
Solana main

Solana main

Introduction: A Strong First Quarter for Solana

Solana has seen a remarkable recovery in Q1 2023, following a turbulent 2022. The platform’s market cap increased by over 118% QoQ, and a series of ecosystem developments have led to a surge in fee payer and transaction activity.

Solana’s Performance in Q1: A Look at the Numbers

Despite previous concerns regarding network outages, Solana’s performance has stabilized after implementing upgrades such as QUIC, priority fees, and Stake-Weighted Quality of Service. The layer one blockchain network experienced significant growth across DeFi, NFTs, and GameFi verticals in Q1.

DeFi Growth: Total Value Locked on the Rise

According to the latest Messari report, the total value locked (TVL) in Solana increased by 23.5% QoQ in USD terms. However, TVL denominated in SOL decreased by 40.7% during the same period. Liquid staking derivatives (LSDs) continued to support the Solana ecosystem, with Marinade Finance, Lido, Jito, and JPool growing their TVL by 100% or more in Q1.

NFT Surge: Sales Volume and Daily New NFTs Increase

Solana’s NFT ecosystem experienced a similar trend, with the total number of daily new NFTs increasing by nearly 12% QoQ. NFT sales volume in the secondary market rose by almost 36% in USD terms. The unique buyer count also exceeded the unique seller count during the first quarter, with 889,000 buyers and 887,000 sellers.

Solana’s Recovery from FTX Implosion

The strong ties between Solana and Sam Bankman-Fried’s crypto empire resulted in challenges for the network, leading to rumors of a developer exodus. However, the launch of new applications in 2023 has helped increase and stabilize the active programs in the Solana ecosystem. As a result, the number of unique active programs rose from 58,000 in Q1 2022 to 96,000 in Q1 2023.

With the significant growth experienced in Q1 across DeFi, NFTs, and GameFi verticals, Solana appears poised to continue its upward trajectory in the coming months.

Tags: DeFiGameFiSolana
BTCPulse

BTCPulse

Hamed, the cryptowriter, wields the power of words to unravel the mysteries of blockchain. With precision and creativity, he transforms complex concepts.

Related Posts

Polygon overtakes Ethereum in NFT sales, driven by Courtyard's physical card collectibles

NFT Sales Jump to $109.8M as CryptoPunks Surge 136%

September 21, 2025

NFT sales rose 4.1% to $109.8M as CryptoPunks jumped 136%. Buyer and seller counts soared, signaling a strong...

Bar chart showing June 2025 NFT sales volume by blockchain including Ethereum, Immutable, Bitcoin, and Polygon

NFT Sales Plunge to $129.6M as Pudgy Penguins Jump 63%

August 31, 2025

NFT sales slipped 8.53% to $129.6M, yet Pudgy Penguins soared 63% as buyer counts grew across blockchains and...

Bar chart showing June 2025 NFT sales volume by blockchain including Ethereum, Immutable, Bitcoin, and Polygon

NFT Market Rebounds Slightly as Bitcoin Surges Past $105K

June 8, 2025

NFT sales rise 1.95% to $106.2M as Bitcoin surges to $105K. Buyer participation jumps 55% amid steady growth...

Bar chart showing June 2025 NFT sales volume by blockchain including Ethereum, Immutable, Bitcoin, and Polygon

NFT Lending Volume Collapses 97% From Peak as Market Activity Dries Up

May 28, 2025

NFT lending has collapsed 97% from its peak, with borrower activity down 90% and lenders 78%, reflecting a...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • About Us
  • Advertise
  • BTC-PULSE
  • Contact Us
  • Events
  • Privacy Policy
  • Sitemap
  • Terms of Service