Pudgy Penguins: NFT Market Leader After CryptoPunks
Date: 2024-12-10 Author: Henry Casey Categories: CRYPTO PAYMENTS
The NFT Pudgy Penguins project has achieved impressive growth, taking the second place in market capitalization among all collections, second only to CryptoPunks, whose value exceeds $1.5 billion.
The minimum price of one Pudgy Penguin rose by 8.4% in 24 hours, reaching 22.1 ETH (approximately $86,922). Over the week, this figure increased by 44.9%, which allowed the market capitalization of the collection to grow to $772.5 million, exceeding the $755 million registered by Bored Ape Yacht Club.
The main reason for this success was the announcement of the launch of a new token "Pengu", which is planned to be released in December on the Solana network. The total supply will be 88,888,888,888 tokens, of which 25.9% will be distributed among the Pudgy Penguins community.
The creators of the collection believe that with the advent of the “Pengu” token, the project will be able to attract even more fans, including those who were previously uninvolved in cryptocurrencies. “Pengu will allow millions of our fans, as well as people outside the crypto community, to join this unique world,” the Pudgy Penguins team noted.
Along with the success of Pudgy Penguins, the total trading volume of Ethereum-based NFTs is also showing growth. According to CryptoSlam, the volume for the week from December 1 to 8 was $91 million, which is significantly higher than the $56.6 million recorded the week before. This is the best result since the end of March.
Pudgy Penguins continues to strengthen its position, offering not only unique collectible tokens, but also new opportunities for its growing community.
