Ethereum NFT volume approaching yearly high as Pudgy Penguins eye #2 spot
Whereas this fall undoubtedly noticed a big rise in Bitcoin NFT buying and selling, the quantity of Ethereum NFTs traded on-chain is at the moment at its highest weekly degree because the week of Feb. 26, 2023, based on information from The Block.
The rise in Ethereum NFT quantity comes as the present #3 NFT assortment by market cap, Pudgy Penguins, approaches the market cap of its rival, the Bored Ape Yacht Membership assortment owned by Yuga Labs. Yuga Labs additionally owns Cyberpunks, the #1 assortment by flooring worth.
Pudgy Penguins is at the moment creating Pudgy World, an interactive gaming expertise that may reportedly come to the Apple Imaginative and prescient Professional, whereas Yuga Labs is creating the Otherside metaverse, with a deliberate third “journey” check coming quickly.
Nonetheless, whereas Ethereum commerce quantity is at its highest degree in a yr, the identical cannot be mentioned for NFTs minted on the chain, which trended flat this previous yr, indicating that the latest spike in quantity was primarily made up of NFT gross sales relatively than mints.
