The increase in trading volume of Ethereum NFTs is closely related to the continued development of Pudgy Penguins, the third-ranked NFT project by market capitalization, during the past NFT bear market. Additionally, the emerging avatar project, Pandora, has quickly risen to the fifth position in terms of market capitalization.
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Recovery of Ethereum NFT Trading Volume
Pudgy Penguins Emerges Strongly, Ranked Third by Market Capitalization
Pudgy Penguins’ Floor Price Pressures Bored Ape Yacht Club (BAYC)
Recovery of Ethereum NFT Trading Volume
The Block
Data shows that although Bitcoin NFT trading volume has grown significantly since November last year, surpassing Ethereum for the first time, after reaching its peak in December, the two have started to overtake each other. Currently, the trading volume of Ethereum NFTs on the blockchain has reached its highest level since the week of February 26th last year.
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NFT Trading Volume on Different Blockchains
Pudgy Penguins Emerges Strongly, Ranked Third by Market Capitalization
The increase in trading volume of Ethereum NFTs is closely related to the continued development of Pudgy Penguins, the third-ranked NFT project by market capitalization, during the past NFT bear market. Its market capitalization is steadily approaching that of Bored Ape Yacht Club (BAYC), a project under Yuga Labs. The market capitalization of Yuga Labs’ another project, CryptoPunks, still ranks first, while the market capitalization of the emerging avatar project, Pandora, has quickly risen to the top five:
– CryptoPunks: 599,700 ETH
– BAYC: 231,953 ETH
– Pudgy Penguins: 185,048 ETH
– The Avatar Project: 166,056 ETH
– Pandora: 119,584 ETH
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Source: NFTGo
NFTGo
Data shows that Pudgy Penguins has ranked first in trading volume for the past 3 months and 30 days, with a floor price of 20.82 ETH. BAYC’s floor price is 23.04 ETH. In addition, the floor price of Pudgy Penguins’ subsidiary project, Lil Pudgys, has reached a new all-time high of 2.18 ETH.
Furthermore, Pudgy Penguins’ upcoming game, Pudgy World, is said to be launching on Apple Vision Pro.
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30-Day Trading Volume:
– BAYC
– CryptoPunks
– NFT
– Pudgy Penguins
– Bored Ape
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Further Reading:
How does the Pandora avatar project introduce NFTs into Uniswap’s trading pool using ERC404?
OKX NFT market thrives on three core drivers.