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Solana-Based NFT Platform Defies Sideways Crypto Market, Surges by About 30% This Week Amid Increased Activity

Solana-Based NFT Platform Defies Sideways Crypto Market, Surges by About 30% This Week Amid Increased Activity
The native token for a Solana ( SOL )-based non-fungible token (NFT) platform surged by nearly 30% this week, defying the wider crypto market doldrums.
Metaplex ( MPLX ), which aims to facilitate the creation, sale and management of NFTs, clocked price gains this week after it drew attention to its swelling on-chain activity.

The project notes on the social media platform X that 834,000 unique wallets directly signed transactions with its protocol in May, its highest month of all time.
Source: Metaplex/X
Metaplex also notes that last month, 3.1 million new wallets collected a digital asset created through the project.
Source: Metaplex/X
Metaplex has also registered a notable amount of development activity recently. On Wednesday, the crypto analytics platform Santiment ranked the project third among all NFT-related protocols in terms of its number of notable GitHub events in the past 30 days.
Metaplex clocked 23.07 GitHub events, behind the layer-1 permissionless blockchain Flow ( FLOW ) and the Ethereum ( ETH )-based virtual reality platform Decentraland ( MANA ).
Source: Santiment/X
Santiment says it doesn’t count routine updates and utilizes a superior methodology to collect data for GitHub events based on a backtested process.
MPLX, Metaplex’s native token, is trading at $0.342, up from $0.264 one week ago. The 294th-ranked crypto asset did start to backtrack on Friday, dropping more than 5% in 24 hours.
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