Airdrops Fuel Lens Protocol and NFT Market Pump

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.

Lens Protocol Profiles saw big pumps on Feb 15 & 16. Source: OpenSea

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.

Bookmark (0)
ClosePlease loginn

Related Posts

Bitcoin: The Best Performing Asset Class in Q1 2023

Bitcoin set for its best trading quarter in nearly 2-years.
The top cryptocurrency vastly outpaces stocks performance.
BTC is well placed for more gains in Q2 2023.

Bookmark (0)
ClosePlease loginn

USDC Supply Shrinks by $10 Billion in March, But Hits 6-Month High on Smart Contracts

USDC supply declined by $10 billion in March following its exposure to the US banking crisis.
However, the stablecoin use on smart contracts reached a six-month high of 42.08%.
Tether USDT is now the dominant stablecoin, accounting for over 60% of the market.

Bookmark (0)
ClosePlease loginn

Bittrex Quits US, Cites Unfavorable Regulatory Environment

Crypto exchange Bittrex said it was leaving the United States because of the regulatory environment.
The crypto company had had previous skirmishes with financial regulator in the country.
Crypto stakeholders have warned that the US regulatory landscape would force many firms out of the country.

Bookmark (0)
ClosePlease loginn

Solana overcomes FTX fiasco — SOL price gains 100% in Q1

The cryptocurrency market may have overreacted to Solana’s FTX links and its tainted boss, Sam Bankman-Fried.

Bookmark (0)
ClosePlease loginn

Elon Musk requests dismissal of $258B Dogecoin lawsuit: Report

The plaintiff’s brought up Musk’s Saturday Night Live appearance in 2021, where he portrayed “a fictitious financial expert” and called Dogecoin “a hustle,” resulting in a steep price decline minutes later.

Bookmark (0)
ClosePlease loginn

Here’s how the crypto industry is using artificial intelligence

The rise of artificial intelligence, though in its early stages, has found use cases in crypto through countless projects.

Bookmark (0)
ClosePlease loginn

Leave a Reply

Your email address will not be published. Required fields are marked *