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700 uniques in adult is like nothing unless it's a targeted niche with qualified buyers. It tends to take many hits to convert. The ctr rate of your banners is probably going to be horrible too. Maybe 1%. On 700 uniques that means 7 clicks a day.
If it's on Tumblr and you put up banners you stand a very good chance of losing your account.
With Tumblr traffic your best bet is probably to set up a domain and monetize primarily with a popunder on the domain for the reason AdultCopywriters stated. At least then you will get some money even if no one ever pays.
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