Comedian Steve Harvey changed his Twitter profile image by putting up an NFT traceable to Solana, and immediately the price of the crypto literally shot up.
Summary
The Rise of Solana
Solana is experiencing a real rise in price. It has just reached a new all time high at $207 (at the time of writing this article), and today it is up 31% over 24 hours.
What is driving Solana’s price is the fact that it is being portrayed as a viable alternative to Ethereum in terms of DeFi and NFT projects.
Compared to Ethereum’s blockchain, Solana is much more scalable with much lower commission costs.
Steve Harvey and Solana
Solana will now have the support of one of the most popular comedians in the United States.
In recent days, Steve Harvey has updated his profile picture with an image of one of the NFTs in the Solana Monkey Business project.Â
These are two collections of NFTs consisting of 5,000 unique NFTs representing monkeys, plus a further 5 “non-unique” NFTs that provide holders with special benefits.
The launch of this and other NFT collections seems to have contributed to Solana’s rise in popularity.
However, no further indications of explicit sponsorship of Solana and the Monkey Business NFTs have appeared on Steve Harvey’s Twitter profile.
The growth of NFTs on Solana
Meanwhile, Solana continues to make inroads into the NFT landscape by benefiting from congestion on the Ethereum network.
According to Solanalysis, Solana’s blockchain manages a total capitalization of $554 million, posting a 25% increase today alone. In seven days, transaction volume has grown by 11%.
Steve Harvey’s change of profile image has contributed to the growth in market volumes of the Solana Monkey Business collection. Currently, these 5,000 pieces have a market cap of $87 million, a price growth of 46% in the last 24 hours, and a volume of $8 million over 7 days. The average price per piece is 84 SOL (approximately $17,000).
Some NFTs in this collection are definitely worth a fortune. For example, SMB #2799 is worth 777,777 SOL, which is currently equivalent to $163 million.
The collection is somewhat reminiscent of CryptoPunks, only this time the protagonists are monkey faces, pixellated, with the addition of some features that make them unique.
But they are not the only monkeys on Solana. The Degenerate Ape Academy has an even higher capitalisation of $247 million and generates volumes of $31 million per week. In this case, the NFT collection consists of 10,000 monkeys, at an average price of SOL 118 each.
Ultimately, with its NFTs, Solana promises to seriously threaten the primacy in the sector now held by Ethereum.
