BTC PULSE
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
Play Now
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
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 Hamed
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
Hamed

Hamed

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

Related Posts

A vibrant display of Axie Infinity's new merchandise line and a visual representation of NFT commercial rights in action.

Axie Infinity Revolutionizes NFT Market with New Merchandising Rights and Official Merch Store

November 25, 2023

Axie Infinity empowers NFT owners with commercial rights and launches an exclusive merch store, marking a new era...

Digital illustration of DOGAMÍ, showcasing the innovative fusion of NFT gaming and virtual companionship in a blockchain-powered world.

Unleashing the Potential of DOGAMÍ: The Future of NFT Gaming and Virtual Companionship

November 17, 2023

Discover DOGAMÍ - where virtual companionship meets blockchain gaming. Dive deep into the future of NFTs and gaming...

Illustration depicting a phishing attack alert related to OpenSea NFT Marketplace.

OpenSea NFT Users Hit by Large-Scale Email Phishing Campaign

November 15, 2023

OpenSea NFT marketplace users face a new cybersecurity threat with a massive email phishing campaign aimed at stealing...

The innovative Dairy Queen-WGG NFT pop-up store in Chengdu, showcasing the blend of digital art and ice cream.

Dairy Queen Joins Hands with Weirdo Ghost Gang for Exclusive NFT Pop-Up Store in Chengdu

November 15, 2023

Dairy Queen and Weirdo Ghost Gang's NFT pop-up store in Chengdu offers a unique blend of ice cream...

Press Releases

David Ferrucci next to the Elemental Cognition brand emblem.

BM Watson’s Lead Developer Secures $60M for New AI Venture, Elemental Cognition

August 18, 2023

David Ferrucci, has raised a remarkable $60M for his AI startup. The company brings forward two pioneering chatbot solutions designed...

pulse5

Amsterdam Gets with the Dutch Blockchain Days the Biggest Event of the Benelux in the Field of Blockchain, Crypto Currencies, NFTs and Other Web3 Developments

May 8, 2023

Discover the future of blockchain, crypto, NFTs, and Web3 at Dutch Blockchain Days, the largest event in Benelux.

pulse4

Korea Blockchain Week 2023 Set to Push the Boundaries after Record-Breaking 2022 Event

May 8, 2023

Korea Blockchain Week 2023 returns after a highly successful 2022 event, featuring leading experts and the latest trends in blockchain...

pulse3

Istanbul Will Be Hosting Eurasia’s Largest Blockchain Event Once again on May 8–11, 2023

May 8, 2023

Join Eurasia's largest blockchain event, the Blockchain Economy Istanbul Summit, May 8-11, 2023, and discover the future of financial technology.

View All
BTC-Pulse LogoTransparent

© 2023 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.

News

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

Info

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

Company

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

©2023 BTC-PULSE – All right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise