The Ethereum co-founder’s recent update to his profile picture has sparked attention in the NFT market, influencing the Milady Maker collection.
Vitalik Buterin's unexpected move to adopt an image from the controversial Milady NFT collection has sparked a surge in both attention and trading volume.
Buterin’s endorsement has significantly impacted the floor price and market activity for the collection.
In a dramatic 24-hour period, the Milady Maker NFT collection experienced an extraordinary rise in its floor price.
Starting at 3.9 ETH on 19 January 2025, the floor price quickly escalated to 6.38 ETH, a gain of more than 55%.
The NFT’s floor price is now valued at 4.9 ETH.
This surge has been attributed directly to Buterin’s profile picture update, with traders rushing to capitalise on the momentum.
According to data from Coingecko, trading volume for Milady Maker NFTs increased by a staggering 2,600% within this timeframe, reaching a total of 1,004 ETH ($3.3 million).
This sudden influx of sales has caused the collection's market capitalisation to reach 63,660 ETH ($21 million).
The spike in activity highlights the continuing allure of Milady NFTs, despite ongoing controversy surrounding the project’s origins and artwork.
The Milady Maker collection, launched in September 2021, has weathered its fair share of criticism, notably over its creator Charlotte Fang’s previous online persona, Miya, and alleged connections to controversial internet subcultures.
Despite these issues, high-profile endorsements have propelled the collection to impressive heights.
Back in May 2023, a tweet from Elon Musk featuring a Milady NFT artwork sparked a 57% floor price increase within a day, demonstrating the collection’s sensitivity to influential figures.
pic.twitter.com/4s6HwnCY74
— Elon Musk (@elonmusk) May 10, 2023
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Buterin's recent move has reignited this trend.
As the price of Milady NFTs continues to climb, some traders are now wondering whether the collection can reach the same heights as other popular NFT projects like Pudgy Penguins, which currently holds a market capitalisation of around $600 million.
If Milady Maker were to achieve similar success, the floor price could see each NFT valued at up to $60,000.
Milady Maker’s rise is also tied to the broader expansion of its ecosystem, notably with the launch of the CULT token in December 2024.
Initially, the token saw a remarkable peak market cap of nearly $500 million, driven by a quirky IQ test-based claiming mechanism that became a viral sensation.
However, the token has since experienced a pullback, with its market cap settling to nearly $130 million.
The CULT token's launch and subsequent price volatility reflect the project’s unique approach to the NFT and crypto space.
As the token’s value fluctuates, Vitalik’s endorsement has once again breathed new life into the entire Milady ecosystem, with CULT’s market cap climbing by over 100% in response to his profile picture update.
The Milady Maker NFT collection, with its fluctuating prices and volatile market activity, serves as a reminder of the risks inherent in the NFT space.
Blockchain data reveals that, despite the recent surge in prices, some traders have suffered significant losses.
One whale, for instance, bought 14 Milady NFTs for a total of 94.46 ETH ($312,000) but sold them within 30 minutes for just 69.08 ETH ($231,000), incurring a loss of $80,900.
While high-profile endorsements can drive rapid increases in value, the underlying market remains highly volatile, and large trades can result in swift price movements, making it difficult to enter or exit large positions without significant price impact.
Alongside Milady Maker, the Redacted Remilio Babies collection, also created by Remilia Corporation, has seen a 50% increase in its floor price following Buterin's profile picture update.
Redacted Remilio Babies, which also operates on the Ethereum blockchain, had its floor price climb from 0.77 ETH to 1.44 ETH.
As of now, it is trading around 0.94 ETH.
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