October 2024 data highlights CryptoPunks’ impressive grip on the NFT market, commanding a substantial 30.9% share and solidifying its lead among the top NFT collections.
CryptoPunks has held this dominant position since overtaking Bored Ape Yacht Club (BAYC) in May 2023, underscoring its staying power in a highly competitive space.
Once a powerhouse, BAYC has been steadily losing market share over the past two years, dropping from 29.3% in January 2022 to just 12.8% in October 2024. The Mutant Ape Yacht Club (MAYC), BAYC’s related collection, has followed a similar trend, seeing its dominance cut in half from 8.5% to 4.1% within the same period. Both collections, which once set the standard in the profile picture (PFP) NFT niche, now face increased competition from newer entrants.
One such competitor is Pudgy Penguins, which has gained substantial traction since its debut in the top 10 in September 2023. At that time, the collection claimed a 2.7% market share, achieving steady floor prices during a broader NFT market downturn. Fast-forward to October 2024, and Pudgy Penguins now commands a 9.5% share, reflecting a growth trajectory that has more than tripled over the past year.
Top 10 NFT Collections By Market Dominance In Oct 2024 💎
1. @cryptopunksnfts – 30.9%
2. @BoredApeYC – 12.8%
3. @pudgypenguins – 9.5%
4. @Azuki – 5.9%
5. Autoglyphs by @larvalabs – 5.8%
6. @nodemonkes – 4.7%
7. @miladymaker – 4.5%
8. @BitcoinPuppets – 4.3%
9. Mutant Ape Yacht…— CoinGecko (@coingecko) November 6, 2024
The October rankings also feature Azuki at 5.9%, Autoglyphs at 5.8%, and others like Nodemonkes and Milady Maker, all capturing market share amidst growing interest in diverse NFT themes. Bitcoin Puppets and Chromie Squiggles round out the list, each holding a 4.1% market share.
As the NFT space continues to evolve, CryptoPunks and Pudgy Penguins demonstrate resilience and adaptability, while the decline of BAYC highlights the shifting dynamics in a rapidly maturing market.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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Source: https://nulltx.com/cryptopunks-leads-october-2024-nft-market-bored-ape-yacht-club-sees-further-decline/