As a seasoned crypto investor with a penchant for the unconventional and a knack for spotting trends, I must say that the meteoric rise of Pudgy Penguins is nothing short of astonishing. Having witnessed the birth and growth of Bitcoin, it’s fascinating to see an Ethereum-based NFT collection surpassing the price of Bitcoin itself on OpenSea. It’s like watching a penguin waddle past a mighty elephant in the crypto jungle!
Pudgy Penguins, an Ethereum-based NFT collection, has surpassed Bitcoin’s price on OpenSea.
The costliest Pudgy Penguin NFT from the collection is currently up for grabs on OpenSea, priced at approximately 50.3093 Ether or $197,508.78. This places it among the most expensive Picture-for-Profile NFT projects available. At this moment, the least expensive Pudgy Penguin is valued at around 27.65 Ether or $108,460, given Ethereum’s current value of $3,921.61. Remarkably, certain Pudgy Penguin NFTs surpass the worth of Bitcoin (BTC), which is currently trading around $101,445. Over the past week, Pudgy Penguins have gained a market dominance of 21.88%, pushing Bored Ape Yacht Club down to 16.31% dominance, according to Coingecko.
The influence of the Non-Fungible Token (NFT) market over the entire industry has significantly grown, having nearly quadrupled from its 9.5% share in October 2024. This surge follows a general recovery within the NFT sector. A significant stir about Pudgy Penguins has been caused by recent news that their ecosystem will soon introduce the Pengu coin ($PENGU) on the Solana (SOL) platform this month, which has contributed to the rise in Pudgy Penguin’s prices.
Introducing $PENGU, the official coin of Pudgy Penguins.
Launching in 2024. Learn more below.
— Pudgy Penguins (@pudgypenguins) December 6, 2024
Beyond its primary function, the token has been created to motivate owners within the Pudgy Penguins network. This encouragement should have a positive impact on the token’s worth and overall market perception.
According to Coingecko’s latest report, NFT sales volumes significantly increased by approximately 58% last month, reaching a staggering $562 million – the highest monthly figure since May. Notably, this surge was driven primarily by high-value collections, with CryptoPunks and Pudgy Penguins being the top performers. In fact, the price of Pudgy Penguins saw an impressive rise of 262% during November, jumping from 8.7 Ether to 13 Ether before its recent spike. At the end of November, there were over 12,000 active wallets and more than $180 million in sales.
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2024-12-12 11:29