Milady NFTs Soar Amid NFT Market Volatility

As ETH rallied over the past two days, traders sold off most major Ethereum NFT collections, such as Azuki and the Mutant Ape Yacht Club, but Miladies and related NFTs are bucking the trend.

While most collections trended downwards or remained flat, the Milady floor price soared 35% from 4 ETH ($14,800) to a high of 5.8 ETH ($21,500) in a matter of hours. While there is no clear catalyst for the rally, the momentum has been sustained as the collection still sits at a 5.5 ETH floor.

The Milady-adjacent NFT collection, Redacted Remilio Babies, also jumped 35%, increasing from 1.36 ETH to a high of 1.85 ETH before retracing.

Periods of high volatility in the price of Ether can negatively affect NFT prices in the short term. Traders often prefer to be allocated to ETH rather than NFTs when they anticipate large price movements. This is typically due to fear of the NFT underperforming compared to the base asset, ETH.

Despite previous controversy, Milady and Remilio NFTs have largely outperformed other ETH NFT collections since 2022, and both are currently at all-time highs.