Pudgy Penguins NFT Craze Takes Flight As Daily Volume Surpasses $ 11 Million In Ethereum

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  • An Ethereum-based NFT project called Pudgy Penguins is exploding right now.
  • Over $ 11 million worth of NFT from the collection has been sold in secondary markets in the last 24 hours alone.

Do you want to get an idea of ​​what NFT collectible series are in high demand currently? It’s simple – take a look at Crypto. Among the luminaries and enthusiasts of the cryptocurrency industry, you will find the classic CryptoPunk as well as the newest Avatar Boring Monkey Yacht Club. And lately you will often find chubby penguins.

Chubby penguins barely break the Ethereum mold based on NFT sets. re are 8,888 in all, each of which represents a different cartoon penguin assembled from a series of random features. Some have hats or glasses; mohawk or bowl cut; a shirt or scarf. You can see devil horns or a fish lying on his head. It is similar to the previously mentioned sets of approaches, albeit with a generally healthier appeal.

But just like those games, they sell like hotcakes. original run sold out quickly and the NFTs were minted around three weeks ago but only exploded in the last few days. When Reddit co-founder and well-known investor Alexis Ohanian on Tuesday tweeted her Pudgy Penguin, it seemed like confirmation that the collecting craze was catching fire. Today’s New York Times story in them just cemented this.

An NFT acts as a property title for any type of digital object, be it an image, a video file, a video game object, or something else. NFT’s broader market exploded earlier this year, garnering some $ 2.5 billion in total transaction volume in the first six months of 2021.

Although some of the excitement around the market seems to wane in recent months, transaction volumes have been on the rise lately. minimum price for CryptoPunks recently fluctuated around $ 150,000 in ETH after that exceeding the $ 100,000 mark for the first time last week, and there have been some multi-million dollar sales on that collection recently. Meanwhile, the new Bored Ape Yacht Club has scored its own first NFT sale above $ 1 million last weekend.

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According to CryptoSlam, Pudgy Penguins’ transaction volume amounts to $ 11.8 million in ETH in the last 24 hours, a sizable new peak for collection. That’s a big jump from the nearly $ 3.6 million value of the previous 24 hours, and that puts Pudgy Penguins above CryptoPunks ($ 7.6 million) and Bored Apes ($ 2.1 million) on the final day of sales.

Unsurprisingly, growing demand for Pudgy Penguins is causing its price to skyrocket. At the time of writing, the floor is 2.3 ETH on the OpenSea secondary market, which means the cheapest you can buy right now is just over $ 7,000. Earlier this afternoon, it was 1.85 ETH (around $ 5,700). hype is real and the market is responding in kind.

Click on some of the recent sales on OpenSea and it is common to see the value increase multiple times over the past week. Chubby Penguin # 5729, for example, today sold for 2.5 ETH ($ 7,675). Less than a week ago, it was sold for 0.33 ETH ($ 1,012). Less than a week earlier, it was sold for just 0.03 ETH ($ 92).

most expensive Pudgy Penguin sold to date, according to CryptoSlam, is a surprisingly simple penguin design on a green background, but it’s the only one in the entire set that faces left, along with a few other rare attributes in the mix. It was sold for 150 WETH (wrapped Ethereum), or around $ 458,000, two days ago, and now the current owner has it. Listed on OpenSea for 1,000 ETH. That is more than $ 3 million.

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