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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