What Happens if BAYC is Threatened by Pudgy Penguins
Journalist
Posted:
- In the last three months, the reserve price of Pudgy Penguins has increased by 270%.
- In the last 30 days, existing holders have accumulated more Pudgies (Pudgys) than Apes.
The non-fungible token has been reactivated after a long winter that froze trading activities. [NFT] The market is heating up.
Blue-chip collections waged a fierce battle for NFT supremacy.
Latest Trends in the NFT Market
The reserve price for Pudgy Penguins – the collection with the third highest market cap – briefly exceeded that of Bored Ape’s Yacht Club, which was in second place. [BAYC] On February 17th
AskFX examined OpenSea data and found that the minimum price of Pudgy Penguins was 22.9 Ethereum. [ETH] Around 10 a.m. UTC
It also happened to the company Yuga Labs, whose minimum price was 22.65 ETH.
At the time of writing, BAYC reclaimed second place as the floor price rose to 23.6 ETH. Pudgy Penguins saw a decline to 21.89 ETH.
The reserve price is the minimum price at which an NFT can be sold within a collection. This is one of the metrics collectors most often use to measure the growth of their collections. The higher the number, the better.
Over the past three months, the price of Pudgy Penguins, an 8888-piece collection of cartoon NFTs featuring adorable penguins, has increased by 270%. The sales volume also doubled.
OpenSea
The popular BAYC NFTs, on the other hand, have had problems recently. In the last 90 days, the floor price has fallen by almost 25% while NFT sales have plunged by 83%.
OpenSea
The chubby holders are on an accumulation spree
The holders’ accumulation patterns also showed the stark contrast between the demand for these two blue-chip NFTs.
Nansen, a company that provides on-chain analytics, reports that Pudgy holders have added approximately 224 Pudgy Penguins NFTs to their Pudgy Penguins card holdings in the past month. BAYC holders also snapped up 72 Apes during the same period.
The launch of BAYC and Pudgy Penguins coincided with the peak of the NFT bull market in 2021.
The excitement surrounding the launch of Pudgy World may be the reason for the renewed interest in Pudgy Penguins.
