Lens Protocol Profiles are going from strength to strength, largely fuelled by rumors of an upcoming airdrop.
On Thursday, Lens Protocol Profiles experienced a 90-day peak in both volume and sales. Today seeing 152 ETH in volume in 1,441 sales. The floor price of Lens Protocol Profiles spiked to 0.146 ETH AT 8:16 UTC. The equivalent of approximately $250 USD. This is likely due to rumors of an upcoming $LENS airdrop.
Earlier this week, NFT marketplace Blur launched its much anticipated $BLUR airdrop. The airdrop amount heavily depended on each user’s total activity, transactions, and network volume.
The increase in $BLUR tokens has caused a pump across the NFT market. With volume and prices rising significantly over the past 48 hours.
A Good Look For Lens
Yesterday, Lens Protocol experienced an ATH in daily transactions, with 435,771 transactions made by 12.6K users in a single day. Lens also experienced an ATH in daily users on February 11th, seeing 15,549 users in a single day.
Lens Protocol, developed by the same team behind Aave, was introduced in early 2022 and gained a lot of attention in the blockchain and crypto communities for its new approach to social networks. At its core, the Lens Protocol is built around the concept of a “social graph,” which is essentially a map of the connections and relationships between users in a social network. The project allows developers to launch social media platforms and profiles based on a Web3 model.
The principle behind Lens is that users own and control their digital identity. Each user retains ownership over their profiles and content. You can set up a DAO account, monetize your content and transfer your data.
Earlier this month, Lens Protocol reached a major milestone of over 100,000 profile owners, indicating growing interest and adoption of the decentralized social graph platform. This follows from a successful January, which saw a record number of engagements. The social graph saw 299,446 posts, 63,914 comments, and 111,215 mirrors.
BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.