Nfts
Milady NFTs Skyrocket Amid NFT Market Volatility
Milady Maker NFTs surged 35% while most Ethereum NFTs crashed.
As ETH rallied over the past couple of days, traders sold most of the top Ethereum NFT collections, such as Azuki and Mutant Ape Yacht Club, but Miladies and related NFTs are bucking the trend .
While most collections trended down or remained stable, Milady’s floor price jumped 35%, from 4 ETH ($14,800) to a high of 5.8 ETH ($21,500). ) in a few hours. Although there is no clear catalyst for the rally, momentum has been sustained as the collection still sits at the 5.5 ETH floor.
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Milady’s adjacent NFT collection, Redacted Remilio Babies, also surged 35%, from 1.36 ETH to a high of 1.85 ETH before retracing.
Periods of high Ether price volatility may negatively affect NFT prices in the short term. Traders often prefer to be allocated to ETH over NFTs when anticipating large price movements. This is generally due to fears of the NFT underperforming the base asset, ETH.
Despite the previous controversialThe Milady and Remilio NFTs have significantly outperformed other ETH NFT collections since 2022, and both are currently at all-time highs.