Airdrop Mania Fuels Lens Protocol Profile 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.

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.