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Solana's NFT Sales Volume Declines by Over 45% in Last 30 Days Despite Launch of State Compression Feature

Solana's price dropped by over 6% in the last 24 hours, with metrics suggesting further decline. However, a few indicators were bullish. Solana recently launched a unique feature for its NFT ecosystem called State Compression, which reduces the cost of minting 1 million NFTs on Solana to nearly $110.

While the feature adds value to the blockchain's NFT ecosystem, SOL NFT sales volume declined by over 45% in the last 30 days, and the number of buyers and sellers also decreased. Nonetheless, some market indicators suggest a potential price uptick in the coming days.

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