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Cardano's Biggest NFT Project Sets Monumental Milestone, Here It Is

Fri, 10/21/2022 - 14:56
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Tomiwabold Olajide
Ape Society ranks as biggest NFT project in terms of collection
Cardano's Biggest NFT Project Sets Monumental Milestone, Here It Is
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Cardano NFT projects continue to gain traction. The Ape Society, Cardano's biggest NFT project in terms of collection share by 24-hour volume, has reached a 10,000 ADA floor price. This sets a record for the Ape Society and Cardano NFTs — a major collection breaking the 10,000 ADA barrier for the first time.

The 10,000 ADA floor price refers to the price for the cheapest NFT within the collection. For more expensive collections, the price might be up to tens of thousands of ADA. For example, King Ford Edward's NFT from the Ape Society was sold for 180,000 ADA. Another NFT, Maitland Lavigne, was sold for 47,000 ADA on the Cardano NFT marketplace, JPG store.

According to OpenCNFT data, the Ape Society ranks as the biggest NFT project in terms of collection share by 24-hour volume with 15%, followed by Lunatics-Quackhead (11.77%) and Clay Nation by Clay Mates, accounting for 4.06%.

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Cardano Breaks into Top 3 NFT Chains as 24-Hour Volume Jumps 132%

NFT collections are denominated in ADA, meaning they are not only subject to the volatility of the floor price itself but also the fluctuation of the ADA price against the U.S. dollar.

As reported by U.Today, Cardano reported a 280% increase in its NFT volume within seven days. From Oct. 10, when ADA NFT volumes were barely 811,000, to Oct. 17, when ADA NFT volumes reached 3.0 million ADA, this marked a 280% increase. Cardano subsequently entered the top three NFT chains, flipping Immutable X for the fourth spot.

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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.