Try Quests to earn SOLOpen Analytics Bounty: ETH vs Solana
Using this chart, we notice Ethereum dominates Solana on the daily NFT mint users chart, same as the mint transactions chart.
Using these charts, we notice Degods was the most popular NFT project in the case of the sale amount, and 111 anons were the most popular in the case of the number of transactions. It’s considerable that we can not see Degods collection between the top 10 NFT projects by the number of transactions over the past 90 days.
Using this chart, we see that 2 to 10 NFT distribution was the most popular in both blockchains.
Using these charts, we notice that the Sudo inu was the most popular NFT project in the case of the sale amount, and Opensea was the most popular in the case of the number of transactions.
In the case of number of transactions we have Ens as the second rank
Using the following charts, we can find the Daily and Total details of the NFT mint transactions on Solana vs. Ethereum.
Observation
As we see in the daily chart of NFT mint transactions, Ethereum has dominance on Solana on the most of the days with considerable difference.
Also we can see that the max number of NFT mint tranasctions over the past 90 days was about 685K on Sepetember 5 for Ethereum, and about 362K on September 7 for Solana.
Also,from the above chart we can find the total number of NFT mint transactions comparison between Solana and Ethereum over the past 90 days, which matches our observations on daily chart.
Using the following charts, we can find the Daily and Total details of the NFT sale transactions on Solana vs. Ethereum.
Observation
Using the above charts, we notice that
- In the case of daily NFT sales transactions Solana has dominance on Ethereum due to low fees on Solana blockchain and variety of NFT projects on Solana
- over the past 90 days the maximum number of NFT sales transactions was 258K on September 7 for solana and more that 73K for Ethereum
- In the case of Total NFT sales transactions Solana is pioneer with 6.72M, followed by Ethereum with 4.79M.
- There is a sudden increase in number of Solana NFT sales on September 7, due to yOOts release.
- In both case of distinct buyers and sellers Ethereum has the upper hand.
Possible explanation
The graphs regarding the number of NFTs minted on Solana on 7, shows that about 360,000 NFTs were minted in a single day.
However, there could be an explanation for this explosive growth over the first week of September. The much anticipated Y00ts NFT collection dropped last week. Founded by the same team behind DeGods, Y00ts is looking to take second place in the Solana NFT charts.
Image Source
Using the following charts, we can find the top NFT buyers on Solana vs. Ethereum based on their transaction numbers
Distribution of NFT sales on Solana vs. Ethereum
Most popular NFT projects based on number of transactions and Sales amount on Solana
We will try to give a brief definition of the most popular NFT projects on Solana blockchain in the following
Most popular NFT projects based on number of transactions and Sales amount on Ethereum
We will try to give a brief definition of the most popular NFT projects on Ethereum blockchain in the following
About Ethereum From
Ethereum is one of the most favored blockchain platforms for creating decentralized applications. Ethereum has been responsible for creating an open economy by providing its cryptocurrency and platform for developing decentralized applications. The platform can be accessed by anyone regardless of location and background. There is a dominance of Ethereum when it comes to the market of digital collectibles, as it has been the first platform that provided a way for NFTs. Due to this, developers have been using it as the first preference for creating digital assets. The only flaw you can count on here is the platform’s intensive computing power.
About Solana From
Solana is undoubtedly a great competitor to Ethereum. The platform has been created to provide developers with a place to develop user-oriented applications. The most intriguing feature of the platform is its efficiency. Solana is known to process around 50,000 to 65,000 transactions every second, making it one of the fastest blockchain platforms. It is currently the quickest blockchain platform available to developers for creating scalable applications, and due to this, it has the most efficient ecosystem. The primary focus of Solana is on scalability and user-friendly application, which makes it one of the best choices for developers if they are considering a new blockchain platform apart from Ethereum. It currently has more than 400 Defi, Web3, and NFTs. It usually conducts up to 3,000 transactions a second and up to 65,000 transactions in a second.
Methodology
In this dashboard, we will try to compare NFT’s on Solana and Ethereum using the following metrics:
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Daily and total NFT mint transactions and users
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Daily and total NFT sale transactions and users
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Top NFT buyers by number of transactions and volume
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Distribution of NFT sales
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Top 10 NFT projects by number of transactions and volume
Also, we will try to give a brief comment on each of the charts and results in this dashboard.
What Is a Non-Fungible Token (NFT)? From
Non-fungible tokens (NFTs) are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other.
Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency. This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can serve as a medium for commercial transactions.
