NFT: The PENGU Is A Hit After An Unprecedented Wave Of Purchases

An unknown buyer triggers a real wave in the NFT market by acquiring 45 CryptoPunks for 10 million dollars. This spectacular act revives interest in several digital collections. Leading the crypto performance charts is the PENGU token from Pudgy Penguins.

NFT: PENGU explodes after the purchase of 45 CryptoPunks

The PENGU token is linked to the NFT collection from Pudgy Penguins. It establishes itself as the best-performing digital asset of the day on the crypto market. Its value jumped by +26.7% within 24 hours according to the data.

That’s not all! The PENGU token also now shows a market capitalization of over 2.4 billion dollars. And over the last 30 days, its growth is impressive: +310%, a record in the top 100.

This spectacular surge originates from a viral transaction on OpenSea. A user purchased 45 CryptoPunks, thus driving the floor price of this digital collection up by +16.5%. Subsequently, the Pudgy Penguins’ floor price climbed by +13.3% to 16.57 ETH. This amounts to approximately $63,000.

This renewed interest also lifted other NFT tokens. Mainly referring to Bored Ape Yacht Club, Azuki, and Moonbirds, which all show double-digit increases. This phenomenon confirms the domino effect that can result from a major sweep on a flagship NFT collection.

NFT: Towards a new hype for digital collections?

The enthusiasm around this record transaction reignites speculation about a possible NFT bull run. In addition to PENGU, which saw a 31% rebound last week, several projects are betting on tokenizing their NFTs to maintain interest.

For example, Rektguy saw its floor price jump by +27%. However, its REKT token only increased by +4.5%. This proves the current dynamic remains focused on visual rarity and iconic collections.

Other projects follow this model. Such is the case of DeGods, once a Solana star. It launched its own token but struggles to take off again. Its floor price still gained +16.8%, even though its token dropped by -91% since its peak.

The NFT market resurgence is a sign of returning speculative appetite. The CryptoPunks effect might just be the beginning. Is a new euphoric season approaching? Investors are on the lookout!