Pudgy Penguins NFT Sales Soar After Major Endorsements

Pudgy Penguins NFT sales have surged to over $2.2 million within the last 24 hours, primarily involving Ethereum transactions, influenced by platforms like Coinbase and OpenSea updating their social media avatars to the NFT.

The sales spike not only signifies potential market influence but has also led to a 26% hike in the floor price. Further impacts on Ethereum and PENGU tokens are being observed.

Pudgy Penguins Sales Hit $2.2 Million from Major Endorsements

The Pudgy Penguins NFT collection observed a notable sales boom, reaching approximately $2,225,059 in 67 transactions within a day. Major entities like Coinbase and OpenSea contributed indirectly by updating their avatars to portray “Fat Penguin” themes, leading to immense social media engagement. Luca Schnetzler, CEO of Pudgy Penguins, has been pivotal in branding efforts.

Following these changes, the floor price of the Pudgy Penguins NFTs rose about 26% to 11.8 ETH. Ethereum’s trading activity experienced increased demand, especially concerning transaction fees and liquidity pressures. The recent avatar trend is a reflection of powerful social signals in the crypto industry.

Luca Schnetzler, CEO, Pudgy Penguins, stated: “Every generation has had its great penguin IP from Pingu to Club Penguin to Happy Feet… there’s a huge opportunity for the next great penguins to invade not only the metaverse but the real world.”

ETH Trading Spikes Amid NFT Market Dynamics

Did you know? Historical patterns show that Pudgy Penguins NFTs have repeatedly spiked due to partnerships and media attention, with prior events causing similar abrupt market upticks in both price and volume.

According to CoinMarketCap, Ethereum (ETH) currently trades at $2,970.35, with a significant market cap of $358.57 billion, representing a 9.73% market dominance. Its 24-hour trading volume recorded at $28.07 billion marked a 28.21% decrease. Over the past 90 days, the ETH price surged by 82.94%.

Insights from Coincu research suggest potential future changes in the NFT sector could impact Ethereum’s network conditions and overall crypto asset stability. The natural synergy between NFT popularity and ETH’s utility plays a crucial role in market dynamics.