Pudgy Penguins, a non-fungible token collection from digital asset firm Igloo, has seen its market capitalization and floor price significantly rise this week, overtaking the giant Bored Ape Yacht Club NFT collection. Pudgy Penguins has climbed to become the second-largest NFT collection by both market capitalization and floor price in the NFT market. The Pudgy Penguins NFT collection is now distantly following the dominant CryptoPunks NFT collection.
Pudgy Penguins Surpass Bored Apes In Floor Price
Data compiled by CoinGecko.com, an on-chain crypto market data aggregator and non-fungible token explorer, shows that the Pudgy Penguins NFT collection has surpassed the Bored Ape Yacht Club NFT collection to become now the second most-largest NFT collection by market cap in the NFT market. In the past 24 hours, the Pudgy Penguins NFT collection has amassed a market capitalization of $760 million. Bored Ape NFT collection has a market cap of $738 million.
Furthermore, the Pudgy Penguins NFT collection has surpassed the Bored Ape Yacht Club NFT collection in floor price value. In the past 24 hours, the Pudgy Penguins NFT collection has seen its floor price jump to 22 ETH, equivalent to $85,815. During this period, the Bored Ape NFT floor price stood at 19 ETH, equivalent to $73,857. After taking down the giant Bored Ape NFT collection, the Pudgy Penguin collection is now left with the CryptoPunks to compete with.
Source: CoinGecko.com, Top NFT Collections by Market Capitalization and Floor Price
The Pudgy Penguins is a non-fungible token collection from the digital asset incubation studio and cartoon toy brand Igloo, featuring a limited edition of 8,888 penguin birds hosted on the Ethereum blockchain network. The Pudgy Penguins NFT collection was launched on July 23, 2021, and sold out in just 20 minutes, with crypto traders paying just 0.03 ETH to mint each Pudgy Penguin NFT.
Why Is Pudgy Penguins Rising?
The recent Pudgy Penguins NFT market surge can be associated with the launching of a crypto coin announced over the weekend. Late last week, the Pudgy Penguins NFT team announced that they are launching an “NFT Master Coin” duped “$PENGU” on the Solana blockchain network. This NFT token will feature a limited supply of 88,888,888,888 PENGUs, with 25.9% being allocated to existing holders of Pudgy Penguins, Lil Pudgys, and Pudgy Rods NFT collections.
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