Solana’s Top NFT Project Just Pumped 122% in a Week
Solana (SOL) has seen a wild pump currently, greater than doubling over the previous month and hitting an 18-month excessive earlier this week. But it surely’s not simply SOL that’s on the way in which up—the community’s prime NFT challenge has additionally seen a speedy rise in worth of late, registering a worth climb of greater than 100% in simply the final seven days alone.
Mad Lads, a Solana profile image (PFP) challenge launched earlier this 12 months, has surged in worth to change into the highest assortment on the community by flooring worth—the value of the most affordable listed NFT on a secondary market.
In accordance with blockchain knowledge compiled by SolanaFloor, the ground worth of a Mad Lads NFT has jumped 122% over the previous week to 100 SOL, or about $5,750 at current. That makes it probably the most worthwhile Solana assortment by flooring and in addition by market cap based mostly on that flooring worth, which in the end tops $57 million.
This week, Mad Lads’s worth jumped even greater, above $6,000 price of Solana. Not solely was this notable for the value of the property themselves, but additionally as a result of the Mad Lads flooring briefly surpassed that of DeGods—as soon as the reigning Solana challenge earlier than it migrated to Ethereum earlier this 12 months.
Mad Lads NFTs Hit All-Time Excessive as Backpack Faucets FTX Lawyer for Trade Launch
That information proved to be one thing of a brief ethical victory for some Solana backers who caught round by means of a tough stretch for SOL and the ecosystem—and who should resent the creators of DeGods bailing on the community. Nonetheless, DeGods is again on prime at a present flooring worth of three.15 ETH, or about $6,200 at current, per NFT Value Flooring.
Armani Ferrante, co-founder and CEO of Mad Lads creator Coral, advised Decrypt that Solana’s NFT area wanted a “new heartbeat” after DeGods left, and that he believed Mad Lads had stuffed that void following its buzzy launch.
LMFAOOO MAD LADS FLIPPED DEGODS FLOOR AND THOSE MFS LEFT FOR GREENER PASTURES AT THE BOTTOM 😭😭😭 pic.twitter.com/MVcg18q2hE
— L (@0xLawliette) November 15, 2023
Mad Lads has registered the third-most buying and selling quantity of any NFT challenge over the past week, per knowledge from CryptoSlam, with about $6.9 million price of trades. Solely the Bored Ape Yacht Membership ($10.2 million) and CryptoPunks ($8 million), each Ethereum initiatives, have greater buying and selling quantity tallies this week. DeGods racked up almost $1.4 million price throughout the span.
Why are Mad Lads on the rise? Past pleasure over Solana’s latest momentum surge and demand from patrons to be a part of its prime NFT assortment, Coral additionally provided unique early entry to its upcoming Backpack change, which obtained a license to function in Dubai.
