Mad Lads, a prominent NFT collection, has experienced a notable surge in value over the past day. Analysts foresee a potential market recovery for the NFT sector in the coming month. While the broader cryptocurrency markets have seen significant growth in recent months, the NFT sector had been relatively quiet. However, as the new month began, optimism within the community has sparked a renewed interest in NFTs. Mad Lads, in particular, reported a remarkable 56% increase in total sales volume in the last 24 hours, heightening investor expectations for a revival in the NFT market.
Introduced to the market in March 2023, Mad Lads focuses on anime and Peaky Blinders-themed NFTs, boasting a collection of 10,000 unique items. According to data from CoinGecko, Mad Lads is currently trading at a floor price of 99.81 SOL, reflecting a 14.5% daily increase. In the past day, prices briefly surged to 104 SOL, marking a two-month high since April.
The price surge has also driven an increase in on-chain activity for Mad Lads. Reports from CryptoSlam indicate a 19% daily rise in buyers, accompanied by a notable 60% increase in sellers over the last 24 hours.
Over the past week, the Mad Lads collection has seen a substantial 215% surge in total sales volume. Despite this, monthly sales volume performance has shown a 12% decline, attributed to previous market downturns. Conversely, the average holding percentage for Mad Lads displays positive trends, with a monthly increase of 12% and a daily rise of 35%.
Looking at the broader NFT sector, following a major market crash in February 2022, there has been sluggish recovery with minimal gains. Nonetheless, new NFT launches continue to attract attention and popularity within the crypto community. Analysts project that NFT art revenue could reach $3 billion by 2028, with Statista forecasting a sector revenue of $2.3 billion by year-end.
Mad Lads’ recent price surge mirrors similar movements in other leading NFTs such as Bored Ape Yacht Club (BAYC) and Cryptophunks, suggesting a potential overall recovery in the NFT market by July 2024.
In addition, the broader cryptocurrency market has shown signs of recovery in the last 24 hours, with top cryptocurrencies like Bitcoin and Ethereum experiencing upward trends, as reported by CMC data.
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(Source: CryptoSlam)
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