cryptonews.net
ADA Peepos (FREN), a meme project on Cardano, is up over 44% in one day. In a cryptocurrency bull market, investors are slowly turning their attention to other potentially bullish assets, including meme-based projects, as a way to diversify their holdings. From a daily low of $0.0000077, the price of FREN has risen to $0.00001076 and remains in this range at the time of writing.
Additionally, the sudden jump in FREN prices is largely due to increased activity on the project’s Discord and the ongoing distribution of FREN to newcomers by generous community members. Interest in the ADA Peepos NFT project has also increased. Total trading volume for the collection now hovers around 1.1 million ADA (approximately $690,000), with 318 pieces sold in the last 30 days alone.
The Cardano blockchain has often been criticized for its lack of on-chain activity and user engagement. Former BitMEX CEO Arthur HAYES recently made a sly remark on how Cardano is barely used compared to its layer-1 competitors. Thus, the recent rise in the value of FREN, the project’s collections, and increased user interest bodes well for Cardano. This is also supported by statistics that show that thousands of projects are being created on the network and new projects continue to be launched daily.
Image: Forbes