- Mad Lads has become the top NFT collection on Solana, with its floor price surging over 100% in the past week to over $5,700 per NFT. This makes it the most valuable Solana collection.
- Mad Lads briefly surpassed Ethereum’s DeGods as the most expensive NFT collection overall, highlighting Solana’s growth, before DeGods reclaimed the top spot.
- Exclusive perks like early access to Backpack exchange for holders, along with Solana’s momentum, have driven major interest and volume for Mad Lads. It is now Solana’s premier collection after DeGods’ departure.
Solana‘s native token SOL has seen significant growth lately, more than doubling over the past month. But it’s not just SOL that’s on the rise – the network’s top NFT project Mad Lads has also seen rapid growth, with prices climbing over 100% in just the last 7 days.
Mad Lads Becomes Most Valuable Solana Collection
Launched earlier this year, the Solana profile picture (PFP) project Mad Lads has surged in price to become the top collection on Solana by floor price, which is the cost of the cheapest listed NFT on a marketplace. According to data from SolanaFloor, the floor price of a Mad Lads NFT jumped 122% in the past week to 100 SOL, or about $5,750. This makes it the most valuable Solana collection by floor price and market cap, with a market cap over $57 million based on the floor price.
Briefly Surpasses Ethereum’s DeGods
This week, Mad Lads’ floor price exceeded $6,000 worth of Solana. Not only was this notable for the asset prices themselves, but also because the Mad Lads floor briefly surpassed that of DeGods, previously the top Solana project before it moved to Ethereum. For some Solana supporters, this was a moral victory over the DeGods creators who left the network. However, DeGods remains on top with a current floor of 315 ETH, around $6,200 per NFT.
Driving Factors Behind Mad Lads Growth
Beyond excitement over Solana’s momentum and demand to be part of its top NFT collection, exclusive early access to the upcoming Backpack exchange for Mad Lads holders has also driven interest. Backpack received a license to operate an exchange in Dubai. The buzz around Mad Lads’ launch has also contributed to its rise to become Solana’s new “heartbeat” collection after DeGods’ departure.
Trading Volume and Market Interest
Mad Lads has seen the 3rd-highest trading volume of any NFT project in the past week, with about $69 million worth of trades according to CryptoSlam. Only Ethereum heavyweights Bored Ape Yacht Club and CryptoPunks saw higher volume. There is clear market interest in Mad Lads as Solana’s new premier collection.
Conclusion
Between Solana’s resurgence and excitement around the project itself, Mad Lads has rapidly climbed the NFT ranks and established itself as a top Solana collection. With the backing of major players in the ecosystem like Backpack, Mad Lads appears poised for continued growth and prominence. Its remarkable price appreciation highlights the potential of top NFT projects, even amid a bearish broader market.
