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Two prominent Solana projects launched a new blockchain . His Degods, a non-fungible token (NFT) venture, plans to move to the Ethereum chain, and the Y00ts NFT team detailed that they plan to move to Polygon.
Degods said NFT project will move to Ethereum, Y00ts details NFT venture is moving to Polygon
Team decided to move venture from Solana blockchain network to alternative blockchain A crypto project that said it planned to migrate to. Degods revealed on Twitter that he is migrating from Solana to the Ethereum network he is one of the NFT projects. Degods is his NFT venture founded in October 2021 and has created 10,000 deflationary PFP (profile picture) NFTs. On Twitter, the Degods team said:
Degods will officially bridge to Ethereum in the first quarter of 2023. Bridges are not destinations. It’s the way to get there.
Interestingly, the team behind the Y00ts NFT collection says they plan to migrate to the Polygon network. “Y00ts will officially bridge to [Polygon] in Q1 2023,” the official Twitter account he tweeted on December 25, 2022.
Solana’s native crypto asset solana (SOL) is down 94.2% year-to-date, with SOL trading below the US dollar over the past 30 days. fell 19.7% against Last year, SOL was a top 10 crypto asset, but digital currencies have struggled to maintain their position as the 18th largest market capitalization these days. According to data from cryptoslam.io, 7-day stats still show that his NFT turnover on Solana is the second largest among 19 different blockchain networks.
Ethereum dominated his $129.12 million out of $154 million in sales over the past seven days, while Solana made his NFT sales of $14.65 million in the past week. In dollars he came second. Polygon, meanwhile, holds his fourth-largest spot in NFT sales with his $2.38 million.
Defillama’s metrics show that today in decentralized finance (defi) he has $39.42 billion in total locked (TVL), making Solana the 12th largest in defi Directing his TVL. Solana’s TVL on December 26, 2022 is his $216.39 million, which equates to his 0.55% of total defi-locked TVL. Interestingly, the Degods and Y00ts tweets are saying the same thing that both teams said about the migration, “It’s never been done before on this scale.”
Image Credits: Shutterstock, Pixabay, Wiki Commons
