Can Solana’s NFTs Boost SOL’s Price Prediction? Smart Investors are Backing Metacade As Tokens List on Exchanges

While Ethereum is the primary home of NFT collections, Solana NFTs have steadily increased in popularity since 2021. However, recent developments in the ecosystem have led some to wonder how Solana price predictions have changed over the past few weeks. Meanwhile, rising star Metacade has attracted considerable attention after selling out in presale and securing exchange listings with some big names.

Metacade Price Holds Strong After Uniswap Listing

In April, Metacade successfully listed its tokens on Uniswap. The price of MCADE has managed to hold firm; it’s currently sitting at $0.022. This means that anyone who purchased MCADE tokens at the start of their presale has made 10% returns so far, and the excitement around Metacade doesn’t seem to be slowing down. Metacade was able to fill its entire $250 million token staking pool in under 5 hours. Considering the continued interest shown by investors, Metacade’s price prediction seems set to soar.

Solana (SOL) Sees Mixed Signals Following NFT Collection Departure

Solana is one of the leading Ethereum competitors highly regarded for its lightning-fast transaction speeds and low costs and has been tipped as the next up-and-coming NFT chain in recent months. Analysts pointed out that Solana is one of the most inexpensive chains to release NFTs on, costing around $30 to deploy smart contracts vs. Ethereum’s as much as $5,000. 

Despite this, two of the most notable Solana NFTs, DeGods and y00ts, recently completed a migration to Ethereum in a massive blow to the ecosystem. Developers of the two projects cite restricted growth in the Solana NFTs ecosystem as one of the primary causes for the migration. Consequently, the number of users buying Solana NFTs has dropped around -15% over the past month, with total transactions falling almost -10%, according to CryptoSlam. 

There is, however, good news for Solana’s NFT ecosystem. In the past few days, the Solana Foundation announced that it would introduce state compression, a move that would make minting NFTS on the Solana chain  2,400-24,000x cheaper than its uncompressed counterparts. This would reduce the cost of storing 1 million Solana NFTs from $24,000 to around $110 and make NFT minting more accessible. 

Solana (SOL) Price Prediction

With the potential for this cost-cutting measure to drive Solana’s long-term adoption in…