Opensea Began to Integrate with Solana NFT, and the SOL Price Decreased by 10%

04/08/2022By: C, Fiona

 

Opensea is committed to bringing more global NFT users together under one platform.

Opensea, the multi billion dollar NFT market, is integrating Solana based NFT. However, the NFT market has informed traders that Solana is experiencing an influx of demand, resulting in intermittent downtime. However, as of the reporting time, Solana based NFT can still trade on the platform. For example, the Solana based NFT moondusa owned by Axtec87 is launched on opensea at the current price of 25SOL.

After successfully integrating Solana chain, opensea now supports four blockchains, including Ethereum, polygon and Klatyn. Connecting existing chains has been considered a huge market opportunity. In addition, more than 13000 cryptocurrency projects are operating separately.

Digital art lovers can now conduct more seamless transactions through opensea, regardless of the source of any chain. So as to open the NFT market which has experienced great growth in the past year. It is reported that the trading volume of opensea increased more than 600 times in 2021.

Opensea is committed to bringing more global NFT users together under one platform. Earlier this year, the NFT platform completed round C financing, with a financing amount of US $300 million and a valuation of US $13 billion. According to the company, the round of financing was led by paradigm and coatue. In fact, the company has undoubtedly proved that it is the first choice in the NFT market. In addition, the platform is built by Ethereum, and most circulating NFTs come from it. The company intends to accelerate product development, improve customer support, invest in the Web3 community and develop its team.

Larger Picture of Opensea Integrating with Solana

As the fourth blockchain recognized by the world’s largest NFT market, Solana will have more revenue in the future. The asset recorded huge gains last year when it rebounded to an all-time high of around $260.

According to the market data provided by CoinGecko,, sol has risen from an all-time low of about $0.50 in May 2020. The asset has increased by about 357%, 39% and 20% respectively in the past year, 30 days and 14 days.

At the time of reporting, Solana’s market value was about $37.3 billion, so its market dominance was 1.78%. Nevertheless, in the past 24 hours, sol, like most cryptocurrency assets, recorded double-digit losses. As of the reporting time, the transaction price of the asset was about $114.38, down about 10% in the past 24 hours.
Ranked 8th by market value, Solana is competing with other smart contract blockchains in the market. However, with the integration of Opensea, more transactions are expected in the coming months. This ensures Sol’s future growth prospects.