Ethereum NFT Trading Volume Approaches Annual Record High, Pudgy Penguins Market Cap Trails Bored Apes at Third Place

The increase in trading volume of Ethereum NFTs is closely related to the continued development of Pudgy Penguins, the NFT project currently ranked third in market capitalization during the past NFT bear market. The emerging avatar project Pandora has also quickly risen to the fifth position.

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Increase in Ethereum NFT Trading Volume
Pudgy Penguins Emerges Strongly, Ranks Third in Market Capitalization
Pudgy Penguins Pressures Bored Ape Yacht Club (BAYC) Floor Price

Increase in Ethereum NFT Trading Volume
According to data, 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 trading volumes of both have started to surpass each other. Now, the trading volume of Ethereum NFTs on-chain has reached the highest level since the week of February 26th last year.

NFT Trading Volumes on Different Chains

Pudgy Penguins Emerges Strongly, Ranks Third in Market Capitalization
The increase in trading volume of Ethereum NFTs is closely related to the continuous development of Pudgy Penguins, the NFT project currently ranked third in market capitalization, during the past NFT bear market. Its market capitalization is rapidly approaching that of Bored Ape Yacht Club (BAYC) under Yuga Labs, while the market capitalization of another project under Yuga Labs, CryptoPunks, still holds the top position. The emerging avatar project Pandora has quickly risen to the top five in market capitalization:

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How does the avatar project Pandora bring NFTs into Uniswap’s trading pool using ERC404?
)

CryptoPunks: 599,700 ETH
BAYC: 231,953 ETH
Pudgy Penguins: 185,048 ETH
The Avatar Project: 166,056 ETH
Pandora: 119,584 ETH

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. The floor price of BAYC is 23.04 ETH. In addition to the progress of its physical toy business, Pudgy Penguins’ sub-project Lil Pudgys has reached a historical high of 2.18 ETH in floor price. Furthermore, Pudgy Penguins’ upcoming game, Pudgy World, is said to be launching on Apple’s Vision Pro.

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Blue-chip NFT Pudgy Penguins plans to launch online game Pudgy World next year
)

30-Day Trading Volume
BAYC
Cryptopunks
NFT
Pudgy Penguins
Bored Ape

Further Reading
How does the avatar project Pandora bring NFTs into Uniswap’s trading pool using ERC404?
OKX NFT Market Thrives on Three Core Drivers