Ethereum’s NFT market is buzzing with renewed energy, and two major players are driving this resurgence: Bored Ape Yacht Club (BAYC) and Pudgy Penguins. The Ethereum blockchain is once again at the heart of the NFT action, and the latest figures reflect a dramatic rise in activity.
CryptoSlam.io reports a significant spike in Ethereum-based NFT transactions. In just the last 24 hours, trading volume for these NFTs hit $6.8 million, marking a 54% increase from the day before. This surge is largely attributed to BAYC, a popular collection of 10,000 unique NFTs created by Yuga Labs.
Earlier this week, BAYC experienced a breakthrough, with its trading volume doubling after breaking through a key resistance level. According to CoinGecko.com, BAYC’s floor price jumped from 9.8 ETH on August 14 to 12.69 ETH the following day.
Although it has settled slightly, currently around 12.58 ETH, BAYC has led the global NFT charts for three consecutive days. The collection saw $1.4 million in trading volume in the past 24 hours, a remarkable 106% increase.
Meanwhile, Pudgy Penguins, another popular NFT collection, is also making waves. With 8,888 unique NFTs from Igloo Inc., Pudgy Penguins saw its trading volume soar to $940,841 in the past day, up 105% from the previous day. Its floor price climbed from 8.2 ETH on August 12 to 9.6 ETH by August 15.
As Ethereum-based NFTs take center stage, it’s evident that the NFT market is experiencing a major revival, with Ethereum leading the way in this digital revolution.
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