Leading Solana NFT Project Surges 122% in One Week
The top Solana NFT Project, Mad Lads’ floor price has surged 122% over the past week, and briefly even topped DeGods on Ethereum.
Over the past month, Solana (SOL) has been seeing a sudden surge and more than doubled over the past month. Early this week, it even hit an 18-month high. Now even the top Solana Project, dubbed Mad Lads, is seeing a rapid rise in its value, rising 122% over the past seven days.
Mad Lads is a Solana profile picture (PFP) NFT project that was launched earlier this year. Over the past week, it has seen a surge in its prices and is now a top collection in the network based on floor price.
Blockchain data from SolanaFloor shows that the price for a Mad Lads NFT rose 122% in the past week to stand at 100 SOL, roughly $5,750 at current market prices. The surge has seen it become the most valuable Solana collection by floor as well as by market capitalization based on that floor price which is currently over $57 million.
This week, Mad Lads’ price rose even higher, surpassing $6,000 worth of Solana. This was significant, not just because of the price of the NFT asset itself but also because it briefly overtook the price of DeGods which was once the leading the Solana project before it shifted to the Ethereum network early in the year.
The surge, albeit temporary, was good news for Solana backers who stuck to their guns as SOL and the ecosystem went through a rough stretch. It was also a small moral victory for SOL backers who have seen DeGods creators bail out on the network. DeGods is once again at the top with a floor price of 3.15 ETH, approximately $6,200 at the moment, according to NFT Price Floor.
In an interview, Mad Lads creator Coral co-founder and CEO Armani Ferrante added that the Solana NFT ecosystem needed a “new heartbeat” following the departure of DeGods and expressed his confidence that Mad Lads had filled its void after 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 saw the third biggest trading volume for any non-fungible token project in the past week according to CryptoSlam data, notching up $6.9 million in trades. It was only surpassed by the Bored Ape Yacht Club ($10.2 million) and CryptoPunks ($8 million) in trading volumes over the past week. DeGods grossed close to $1.4 million over the same period.
What’s driving the Mad Lads surge? Apart from the excitement generated by Solana’s recent momentum surge as well as rising demand from buyers who wish to get a piece of its top NFT collection. There is also early access to Coral’s upcoming Backpack exchange which was licensed to operate in Dubai.https://virtualrealitytimes.com/2023/11/17/leading-solana-nft-project-surges-122-in-one-week/https://virtualrealitytimes.com/wp-content/uploads/2023/11/Coral-600x337.pnghttps://virtualrealitytimes.com/wp-content/uploads/2023/11/Coral-150x90.pngBusinessNFTThe top Solana NFT Project, Mad Lads’ floor price has surged 122% over the past week, and briefly even topped DeGods on Ethereum. Over the past month, Solana (SOL) has been seeing a sudden surge and more than doubled over the past month. Early this week, it even hit an...Sam OchanjiSam Ochanji[email protected]AdministratorVirtual Reality Times