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Ethereum has been doing the heavy lifting for decentralized finance (DeFi) and NFT (non-fungible token) marketplaces so far. Will Solana become the new smart contract torchbearer? Or will decreased NFT activity level things out once again?

SOL in a Neck-to-Neck Race with ETH on Google Trends

Last week, we broke down Solana vs Ethereum prospects considering that the former outperformed Ethereum by over 500%. We touched on Solana’s unique tech that combines Proof-of-History (PoH) with Proof-of-Stake (PoS), its massive transaction speed of up to 50,000 tps, and the number of dApps and nodes.

True to the forecast, the “interest over time” metric on Google Trends shows that Solana managed to surpass Ethereum twice during the last week; once on September 7 and again on September 9 (yesterday). This is extremely impressive given the disparity between the number of dApps available – 400 vs Ethereum’s 2,840.

source: Google Trends

Solana’s key catalyst to make this happen was most likely the frenzied NFT marketplace. In August alone, Ethereum’s top dApp for NFTs – OpenSea – accounted for $3.4 billion in trading volume. Since then, it has declined by 67% from its August peak. However, the slump was still barely a blip on the radar considering that NFT traffic has increased 10 fold since July.

This record-high activity in speculative digital assets spilled over to Solana NFT dApps. Among these, the top performer is Solanart, which has been carried on the back of the success of Degen Apes Acadamy.