All-time highs in NFT volume at Cardano

Statistics and analysis of the total volume of NFT transactions on Cardano’s network show that they have reached a new all-time high, increasing by more than 300% in the last 10 days.

After various analyses of operations on the Cardano network, they show that the daily volume of NFTs running on its network have managed to mark a new ATH of approximately 4 million ADA (the native cryptocurrency of the aforementioned blockchain).

The following chart shows how the trading volume of NFT on the Cardano network has been on an upward trend in recent days, according to data recorded in OpenCNFT over the last twelve months.

Beyond that, in the period from June to September, the graph shows that the market was not at its best. But since the beginning of October, there has been a clear exponential growth in ADA non-fungible token exchange activity.

To be more precise, in mid-October the volume of operations was around 940 million ADA, and ten days later these numbers have grown to 4 million ADA. Thus, it has experienced an increase of more than 300% in just a few days.

This accelerated growth in the Cardano network is due to the fact that there is a lot of interest in various NFT projects on the blockchain. One of the protagonists is The Ape Society, one of the largest projects in Cardano.

In this way, Cardano manages to position itself within the top three NFT blockchains, while continuing to gain ground and generate more trading volume per day.

Another reason for this growth is the massive transfer of NFT traders from Solana’s network to Cardano’s network that has been observed in the last few days. According to data provided by OpenCNFT, NFT transactions increased by 40% in 24 hours, and the amount of NFTs sold also increased by the same amount in the same hours.

On the other hand, the minimum prices of the main NFT collections in this marketplace have also experienced a price increase ranging from 40% to 140%.

As mentioned, one of the main collections on the Cardano network is The Ape Society. It is a collection of 7,000 unique NFTs generated on that blockchain. Those who own an NFT from the collection will have benefits such as access to the team-backed society, as well as to the DAO that is managed by the community.

Also, as we are used to from other NFT collections, each character has a unique design, so some are weirder than others, but each one has its own style.

Another of the most important collections of the network, it is Derp Birds. It is a Play to Earn game, in which you must level up your character, gaining experience points and obtaining achievements. There are 10,000 in total, with 14 different archetypes. Some of the styles are Derp Birds, Derp Eggs, Derplings and President.

On the other hand, we can mention another collection that moves a significant level of operations in the network, which is about Clay Nation. It is also a collection of 10,000 NFT, whose characters have handmade clay features set with algorithms in their smart contracts of origin. On their official website they mention that just like in the non-clay world, no two Clay Nation NFTs are the same.

Written by Luciano Garriga (TW:@luchogarriga) for NFT Express