NFTs Revival on Solana Through Free Mint by SrPetersETH | Flash News Detail

On March 6, 2025, the cryptocurrency market witnessed a significant event that reignited interest in Non-Fungible Tokens (NFTs), particularly on the Solana blockchain. The catalyst for this resurgence was a free mint event initiated by @SrPetersETH, as reported by Crypto Rover on Twitter (X) at 10:30 AM UTC (Crypto Rover, 2025). This free mint, which took place from 9:00 AM to 12:00 PM UTC, led to a rapid increase in the trading volume of Solana-based NFTs. According to data from SolScan, the total trading volume of Solana NFTs surged by 150% within the first hour of the mint, reaching a peak of $5.2 million at 10:45 AM UTC (SolScan, 2025). This event not only highlighted the renewed interest in NFTs but also had a direct impact on Solana’s market performance, with SOL’s price increasing by 7.2% from $120 to $128.64 within the same timeframe (CoinGecko, 2025). The event also saw a significant increase in on-chain activity, with the number of unique wallet addresses interacting with Solana NFTs jumping by 200% from 5,000 to 15,000 (SolanaFM, 2025). This surge in activity underscores the potential for free mints to drive substantial market interest and liquidity in the NFT sector.

The trading implications of this event are multifaceted. Firstly, the increased demand for Solana NFTs led to a significant rise in the price of popular NFT collections on the Solana blockchain. For instance, the floor price of the top-selling NFT collection on Solana, ‘DeGods,’ increased by 30% from 20 SOL to 26 SOL within the first two hours of the mint (MagicEden, 2025). This price surge was accompanied by a 250% increase in trading volume for ‘DeGods,’ reaching $1.8 million at 11:00 AM UTC (MagicEden, 2025). Additionally, the event had a ripple effect on other cryptocurrencies, with Ethereum’s price also experiencing a 2.5% increase from $3,500 to $3,587.50, likely due to the renewed interest in NFTs as a whole (CoinGecko, 2025). The Solana/Ethereum trading pair on major exchanges like Binance saw a 10% increase in trading volume, reaching $40 million by 11:30 AM UTC (Binance, 2025). This indicates a potential spillover effect from Solana’s NFT market to broader cryptocurrency markets, highlighting the interconnectedness of these assets.

From a technical analysis perspective, the surge in Solana’s price and trading volume was accompanied by bullish market indicators. The Relative Strength Index (RSI) for SOL increased from 55 to 72 within the first hour of the mint, indicating strong buying pressure (TradingView, 2025). The Moving Average Convergence Divergence (MACD) also showed a bullish crossover, with the MACD line crossing above the signal line at 10:30 AM UTC, further confirming the bullish momentum (TradingView, 2025). Additionally, the trading volume of SOL on major exchanges like Coinbase and Binance increased by 120% and 150%, respectively, reaching $25 million and $35 million by 11:00 AM UTC (Coinbase, Binance, 2025). The on-chain metrics also supported the bullish sentiment, with the number of active addresses on the Solana network increasing by 180% from 10,000 to 28,000 during the event (SolanaFM, 2025). These technical indicators and volume data suggest a strong market response to the free mint event, potentially signaling a sustained bullish trend for Solana and its associated NFTs.

Regarding AI-related developments, the resurgence of NFTs on Solana has indirect implications for AI-driven cryptocurrencies. For instance, the increased interest in NFTs may lead to higher trading volumes for AI tokens like SingularityNET (AGIX) and Fetch.AI (FET), which are often used in NFT marketplaces for AI-generated art. According to CoinGecko, the trading volume of AGIX increased by 5% to $1.2 million, and FET saw a 3% increase to $800,000 within the first hour of the Solana NFT mint (CoinGecko, 2025). This correlation suggests that the AI sector could benefit from the renewed interest in NFTs, as AI-generated content becomes more prevalent in the NFT space. Furthermore, the increased market activity and sentiment around NFTs could drive more interest in AI-driven trading algorithms, potentially leading to increased adoption and development of AI technologies in the cryptocurrency market. This interplay between AI and NFTs highlights the potential for AI-related tokens to capitalize on the growing NFT market, presenting trading opportunities for investors looking to diversify their portfolios across these interconnected sectors.