Ethereum NFT transaction volume is approaching a new yearly high! Pudgy Penguins ranks third in market capitalization, closely following Boring Ape

The increase in Ethereum NFT transaction volume is closely related to the continued development of Pudgy Penguins, the NFT project with the third largest market value. During the past NFT bear market, Pudgy Penguins managed to maintain its market capitalization ranking and attract a large number of investors' attention. At the same time, the emerging avatar project Pandora has also risen rapidly, quickly climbing to fifth place in the market value ranking. This shows that the market demand for NFT projects is growing, and investors are also paying more attention to avatar NFT projects. This trend heralds the potential and opportunities of the NFT market, providing new developments for investors and project developers

Ethereum NFT trading volume recovers

The Block data shows that although Bitcoin Coin NFT transaction volume has grown significantly since November last year, surpassing Ethereum for the first time.

The transaction volumes of the two began to overtake each other after reaching their peak in December, and the transaction volume on the Ethereum NFT chain has now reached the highest level for the week since February 26 last year.

NFT transaction volume on each chain

Pudgy Penguins has risen strongly, ranking third in market value

The increase in Ethereum NFT transaction volume is closely related to Pudgy closely related to the continued development of the Penguins project. As the third-largest NFT project by market value, Pudgy Penguins has performed well in the past NFT bear market, and its market value is approaching that of Bored Ape Yacht Club (BAYC) owned by Yuga Labs. This trend shows that Pudgy Penguins is gaining market recognition and investor interest, and also reflects the recovery and growth momentum of the entire NFT market.

The market value of CryptoPunks, another project under Yuga Labs, still ranks first, and the market value of the emerging avatar project Pandora quickly entered the top five:

• CryptoPunks: 599,700ETH
  

• BAYC: 231,953ETH

• Pudgy Penguins: 185,048ETH

• The Avatar Project : 166,056ETH

• Pandora: 119,584ETH

##30-day trading volume

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