Pudgy Penguins, an ethereum-based nft collection, has surpassed the price of bitcoin on OpenSea.
The most expensive Penguin in the collection is now on sale at <a target="_blank" href="https://opensea.io/assets/ethereum/0xbd3531da5cf5857e7cfaa92426877b022e612cf8/3924/” target=”_blank” rel=”nofollow”>50.3093 eth or $197,508.78 on the OpenSea nft marketplace. This makes it one of the most expensive profile picture nft projects. Currently, the cheapest Pudgy Penguin is priced at 27.65 eth or $108,460, at the ethereum price of $3,921.61. bitcoin (btc), on the other hand, is currently around $101,445, making some Pudgy Penguin nfts worth more than the world's largest cryptocurrency. In the last seven days, Pudgy Penguins has achieved a market dominance of 21.88%, dethroning Bored Ape Yacht Club, whose dominance stands at 16.31%, according to <a target="_blank" href="https://www.coingecko.com/en/nft/global-stats” target=”_blank” rel=”nofollow”>Coingecko.
<img decoding="async" width="1200" height="1100" src="https://crypto.news/app/uploads/2024/12/chart-1.jpeg” alt=”Pudgy Penguin nft price surpasses bitcoin price on OpenSea – 1″/>
nft market dominance has more than tripled since October 2024, when it had a market share as low as 9.5%. The Pudgy Penguins price rise comes after a broad rally in the nft market. Much of the interest surrounding Pudgy Penguins comes from the recent announcement that the Pudgy Penguins ecosystem will launch the Pengu coin ($PENGU) on Solana (SOL) this month.
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter“/>
In addition to its fundamental purpose, the token is designed to incentivize holders across the Pudgy Penguins ecosystem, which will positively influence the token's value and market sentiment.
According <a target="_blank" href="https://www.coingecko.com/en/nft” target=”_blank” rel=”nofollow”>CoingeckoNovember. nft sales volumes increased 57.8% to $562 million, the highest monthly figure since May. Recent market data shows that there were over 12,000 active wallets and more $180 million on sales at the end of November. This growth was primarily driven by top-line collections, with CryptoPunks and Pudgy Penguins leading the way; the latter saw its minimum price increase by 262% over the course of November, going from 8.7 eth to 13 eth before its current jump in price.
