Despite the crypto market’s recent sideways trend, a Solana-based NFT platform has seen a surge in activity, leading to a 30% increase in its native token’s value.
Increased On-Chain Activity
Metaplex (MPLX) has reported a record number of unique wallets interacting with its protocol in May, with over 834,000 direct transactions. Additionally, 3.1 million new wallets collected digital assets created through Metaplex last month.
Notable Development Activity
Metaplex has also shown significant development activity, ranking third among NFT protocols for GitHub events in the past 30 days, according to Santiment.
Token Price Performance
MPLX, the native token of Metaplex, has risen from $0.264 to $0.342 this week. However, it has recently experienced a slight pullback, dropping over 5% in 24 hours.
