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Cardano Founder Reacts to Epic NFT Sale Costing 63,000 ADA

Tue, 07/25/2023 - 14:45
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Tomiwabold Olajide
Demand for Cardano NFT sustained
Cardano Founder Reacts to Epic NFT Sale Costing 63,000 ADA
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The Cardano ecosystem is seeing remarkable demand for its non-fungible tokens (NFTs), which might have partly led to some of its NFT collections being sold at noteworthy prices.

Notably, the demand for Cardano Apes has been sustained, driving prices higher. A Twitter user drew attention to this fact, reporting that a Cardano Ape NFT just sold for 63,000 ADA, valued at nearly 20,000 U.S. dollars.

The Twitter user went on to ask for thoughts about the sale. The tweet caught the attention of Cardano founder Charles Hoskinson, who reacted with a GIF image that might suggest someone exploding with excitement.

Another interpretation of the GIF image might be to infer that the sale was an "explosive" one. Whichever it may be, the Cardano founder's intent remains unknown.

Cardano Founder Gives Update on Network Rollup Strategy

The Ape Society, Cardano's largest NFT project, saw strong user demand last December, resulting in its floor price setting highs of 10,000 ADA. Ape Society has the highest Collection Share by Volume, accounting for 24.64% over the past 24 hours, according to CNFT data.

Not only is Cardano thriving in its NFT sales, according to Messari's Layer 1 Q2, 2023, comparison report, but Cardano also dominated Q2, 2023, DeFi growth, leading in TVL, stablecoin market cap and DEX volume among the featured Layer 1 despite a 27% QoQ decrease in ADA's price.

Mithril nears release

Mithril, a stake-based signature scheme and a protocol that improves the speed and efficiency of nodes' syncing times, is nearing its mainnet release. The Mithril network is now being tested in preview and preproduction testing environments and will soon be available as a beta version on the mainnet.

Cardano Mithril Innovation Nears Final Milestones Ahead of Mainnet Debut

Mithril's roadmap contains the following releases: Mithril beta, which is a mainnet protocol launched with a group of volunteer SPOs who assist with testing and prototyping; Mithril MVP (2023) is an incentivized protocol with additional features to support basic use cases, such as fast bootstrapping and secure light wallets; and, lastly, Mithril (2024), a fully decentralized and self-sustaining Mithril ecosystem.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.