Cardano (ADA) to the moon! The largest NFT collection reaches a monumental milestone

• The Ape Society, Cardano’s largest NFT project, reaches a floor price of 10,000 ADA.
• Cardano records a 280 percent increase in NFT trading volumes in one week.

Recently, there has been a lot of interest in Cardano NFT projects. That could explain the huge increase in volume of The Ape Society, Cardano’s largest NFT project based on the collection series. Today, The Ape Society achieved a new record by reaching a floor price of 10,000 ADA.

Apart from being a record for this NFT project, it is also a record for Cardano NFTs. No NFT collection on Cardano’s NFT platform has ever broken the 10,000 ADA limit. The floor price is the cheapest NFT price within an NFT collection.

Therefore, 10,000 ADA is the lowest price for any NFT in The Ape Society NFT collection. However, it is important to mention that there will be other NFTs with higher prices than the floor price. For example, The Ape Society’s King Ford NFT sold for 180,000 ADA.

Maitland Lavigne (another NFT on JPG, a Cardano NFT marketplace) also sold for 47,000 ADA. A recent OpenCNFT data ranks the monkey community as the largest NFT project based on a 24-hour transaction volume. According to the ranking, Lunatics Quackhead and Clay Nation round out the top three NFT projects.

NFT collections on Cardano’s NFT platform are native to the project’s native token (ADA). Therefore, the volatility of the floor price does not affect their prices. Instead, they are exposed to fluctuations in the ADA’s price compared to the US dollar.

The Cardano network and Cardano’s NFT volume continue to grow

Meanwhile, Cardano’s NFT volume increased by 280 percent between October 10 and 17, 2022. On October 10, for example, ADA NFT volumes were around 810,000, but rose to 3 million by October 17, indicating an increase of 280%.

This increase in volume led to Cardano overtaking immutable x and becoming one of the top three NFT chains. OpenCNFT data shows a 67 percent increase in NFT transactions in the same period.

The data further revealed that the number of ADA NFT volumes reached a new all-time high of 3,089,313 on October 17. In addition, StockTwit’s NFT data also showed that the NFT volumes of two Cardano NFT projects (Claymates and The Ape Society) have increased significantly recently.

A recent DApps On Cardano data also showed an increase in Cardano user activity over a 5-day period. User activity on NFT projects such as SpaceBudz, Lending Pond, Cardano Dex Muesliswap, Singularity NFT and CNFT rose by 75 percent, 75 percent, 93 percent, 259 percent and 282 percent respectively.

DApps on Cardano’s tweet. Source: Twitter.

The successful completion of Cardano’s Vasil upgrade has led to increased expectations from the network. Cardano developers released the Vasil upgrade to improve the Cardano network, including the Plutus smart contracts. Full rollout of the Vasil features was completed on September 27. ADA is up 4.38 percent in the last 24 hours and is trading at $0.349.