Cardano’s Ape Society NFT Collection Sets New Milestone

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The Car­dano ecosys­tem is already explor­ing the non-fun­gi­ble tokens (NFTs) indus­try, and its projects con­tin­ue to gain trac­tion. For exam­ple, the Ape Soci­ety is Cardano’s largest NFT project because of its col­lec­tion share by 24-hour vol­ume, which has now reached a 10,000 ADA floor price.

This share vol­ume sets a mile­stone for Car­dano NFTs, includ­ing the Ape Soci­ety itself, as the col­lec­tion broke this price point for the first time. The 10,000 ADA floor price refers to the cheap­est NFT in the col­lec­tion. Oth­er expen­sive NFTs in the col­lec­tion might cost more than tens of thou­sands of ADA.

For instance, King Ford Edward’s NFT from the Ape Soci­ety col­lec­tion was trad­ed for 180,000 ADA. Anoth­er dig­i­tal art from the Mait­land Lav­i­gne NFT col­lec­tion was sold for 47,000 ADA on Cardano’s JPG, its NFT marketplace.

Based on data released from OpenC­N­FT, the Ape Soci­ety is the largest NFT project based on col­lec­tion share with­in a day vol­ume. It is fol­lowed by Lunatics-Quack­head, while Clay Nation, owned by Clay Mates, comes a dis­tant third. NFT projects in the Car­dano ecosys­tem are denom­i­nat­ed in ADA. Hence, they aren’t affect­ed by the volatil­i­ty of the floor price. Instead, they are affect­ed by the ADA/USD price pair fluctuation.

Mean­while, Car­dano record­ed a 289% boost in its NFT vol­ume with­in the last sev­en days. The vol­ume of Car­dano NFTs was bare­ly 811,000 on Octo­ber 10, 2022. How­ev­er, it has spiked to 3 mil­lion by Octo­ber 17, 2022. This change indi­cates that Car­dano has a 280% increase. The new vol­ume also took Car­dano into the top three NFT chains replac­ing Immutable X, which now occu­pies the fourth position.

A 280% Increase in Car­dano NFT Vol­umes With­in A Week

Fol­low­ing the 280% increase in Cardano’s NFT vol­ume, OpenC­N­FT data also revealed that the amount of NFT trans­ac­tions spiked by 67% in the last sev­en days to 48,384. In addi­tion, the amount of NFTs pur­chased increased by 65.27% to 45,668. The vol­ume also hit a peak vol­ume of 3,089,313 on Octo­ber 17.

How­ev­er, this 24-hour NFT vol­ume for Car­dano dropped to 1,232,142 on Octo­ber 20, accord­ing to OpenC­N­FT data. Based on data by Stock­twits NFT, The Ape Soci­ety and Clay­mates NFT col­lec­tions lead the NFT vol­umes chart. An increase in their activ­i­ties caus­es a spike in their NFT volumes.

Dapps data on Car­dano shows a boost in user activ­i­ty in the past few days. Addi­tion­al­ly, projects like Car­dano DEX Mues­liSwap, Sin­gu­lar­i­tyNET, Lend­ing Pond, CNFT, and Space­Budz wit­nessed an increase of 93%, 259%, 75%, 282%, and 75%, respec­tive­ly, in user activity.


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