Solana-Based NFT Ecosystem Token Struggles Despite Unexpected Backing from Binance Futures

An NFT marketplace operating on the Solana smart contract platform (SOL) is experiencing a downturn after recently receiving backing from the world’s leading cryptocurrency exchange by trading volume.

In a recent announcement, Binance reportedly states that it is integrating the NFT ecosystem Doodles (DOOD) into Binance Alpha, a section of the Binance wallet that highlights early-stage digital assets and provides futures contracts for these items.

“Binance is thrilled to announce that Doodles (DOOD) will commence trading on Binance Alpha at 2025-05-09 13:00 (UTC). Additionally, Binance Futures will introduce the DOODUSDT Perpetual Contract with a leverage of up to 50x at 2025-05-09 13:30 (UTC).”

Despite this announcement, DOOD suffered a significant drop, plunging from a price of $0.00807 on the morning of May 9th to a low of $0.00686, representing a 12.8% decline over the last 24 hours.

Doodles consists of 10,000 unique NFTs released in 2021, created by the pseudonymous Canadian artist Burnt Toast. As outlined on its website, the project has also branched out into live storytelling and gaming.

“Within the Stoodio, the proprietary fandom hub for Doodles, users can personalize and create their own Doodles avatars, gather digital collectibles from both online and offline experiences, connect with a global community, and access award-winning content based on their engagement.”

Last year, Doodles – in partnership with artists like Lil Wayne, Lil Yachty, and Pharrell Williams – released a music video showcasing the brand’s artistic style.

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