According to CoinGecko, Solana has been one of the hottest cryptocurrencies recently, dramatically jumping in value from around $37 one month ago to an all-time high of around $197 today. Rising network activity is associated with the uptick, and now even comedian and television personality Steve Harvey is joining in on the “Solana Summer” NFT frenzy.
Harvey updated his Twitter profile picture today to an NFT from the Solana Monkey Business collection, a collection of 5,000 randomly produced images of cartoonish, pixelated monkeys.
An NFT acts as a deed of ownership for practically any type of digital object, and profile image collections such as CryptoPunks and the Bored Ape Yacht Club have recently been in extremely high demand.
Both CryptoPunks and Bored Apes are built on Ethereum, the most active NFT collectibles platform. Leading marketplace OpenSea recorded more than $3.4 billion in NFT trading volume on Ethereum in August alone, and the great majority of top-trading NFT projects are based on that blockchain network.
Solana Monkey Business is one of the most recent NFT compilations to establish a following on Solana, following releases such as Degenerate Ape Academy and Aurory. Both of those collections have been attributed with increasing platform activity, and their respective releases have also coincided with a recent surge in the price of Solana’s SOL token.
According to Solanalysis statistics, NFT collectibles on Solana produced $94 million in trade activity over the last week. As of this writing, Solana Monkey Business has a seven-day volume of $6.2 million, ranking it third on the list behind the aforementioned ventures.