Solana (SOL) Outperform Cardano (ADA) as for Capitalization Due to NFT Sales

Solana (SOL) Outperform Cardano (ADA) as for Capitalization Due to NFT Sales

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Solana’s SOL cryptocurrency ranked fourth in the Coinmarketcap ranking and removed Cardano (ADA) from this place.

An unexpected soar of the smart contracts and NFT platform Solana came after it became known that sales of its NFT are in fourth place in terms of volume. Ethereum remains the leader in NFT, followed by Ronin Gamez (RONINGMZ) and Worldwide Asset eXchange (WAXP). Both of these two platforms Ronin Gamez and Worldwide Asset eXchange specialize in NFT, including marketplaces and numerous gaming applications.

Solana is a universal platform. Therefore, the achievements in the field of NFT confirm the high functionality of Solana. According to data aggregator CryptoSlam, since August, Solana has sold NFTs worth $498 million. On August 31, a daily sales record of $37.7 million was set. In October, a record of 6521 was set for users buying NFTs.

Overall, Solana grew by 15,500% year on year. It may be too late to invest in SOL now, although it may still rise due to the FoMO effect (fear of missing out).

However, analysts believe that the hype around NFT is about to decline. It is being replaced by the popularity of GameFi – gaming finance. Therefore, the growth of such tokens as RONINGMZ, WAXP is likely to continue. They are still small capitalized.

The Worldwide Asset eXchange platform is ranked 103 in the Coinmarketcap ranking. Ronin Gamez has been around for only a couple of months and has a rating of 1037. As a rule, young projects show explosive growth immediately after listing on exchanges. RONINGMZ is currently traded on only one decentralized exchange, PancakeSwap. It is highly likely that in the near future it will be listed by other exchanges, probably decentralized. And then this token will skyrocket.

As for the large-cap cryptocurrencies, it is highly likely that Cardano (ADA) will rebound. Its team has to make something to return to a higher position. ADA, as well as the Uniswap (UNI) cryptocurrency, looks undervalued, according to some experts. The UNI token will grow as players lose confidence in centralized exchanges and shift to decentralized exchanges (DEX). UNI may also grow on news of updating its platform in the second or third quarter of 2022.

Polkadot (DOT) looks just as undervalued too. When the hype around NFT dies down, the technical advantages of the Polkadot platform will again move DOT into the leading cryptocurrencies set. An analyst with the nickname Altcoin Sherpa also highlights Binance Coin (BNB) and Polygon (MATIC) among the undervalued. The native token of the Binance exchange will grow as the exchange staff is strengthened by experienced managers. MATIC may grow in the near future due to its functionality for scaling the Ethereum blockchain.