The recent surge in Bitcoin (BTC) and Ethereum (ETH) values has sparked a notable uptick in various NFT markets, with Ethereum and Solana witnessing particularly significant gains. Notable Ethereum-based collections, including Pudgy Penguins, are experiencing remarkable surges in both USD floor prices and trading volumes, signaling a strong recovery and heightened investor confidence in NFTs tied to these blockchain networks.
Ethereum Collections Showcase Strong Recovery
Pudgy Penguins, an Ethereum-based collection, has demonstrated a noteworthy 77% increase in its USD floor price over the past week, accompanied by a substantial 397% surge in trading volume. This surge not only underscores the collection’s resurgence but also reflects a broader market recovery, suggesting renewed confidence among investors in Ethereum-linked NFTs.
Other Ethereum-based NFT collections are riding the wave of this revival. Azuki’s floor price has risen by 25%, while stalwarts like Bored Ape Yacht Club and CryptoPunks have experienced increases of 30% and 15%, respectively. Even the controversial Milady Maker collection has enjoyed an impressive over 70% increase in its floor price. These collective trends signal a market revival that extends beyond individual projects, indicating a potential end to the prolonged NFT winter.
Solana Collections Join the Positive Trend
The positive momentum is not confined to Ethereum alone, as Solana’s NFT collections are also witnessing substantial growth. Mad Lads, a prominent Solana project, has seen its floor price surge by 52.6%, reaching an impressive $10,219. This growth can be attributed not only to the recent rally in Solana but also to unique benefits offered to holders, including connections to the Backpack app and an upcoming crypto exchange.
Other Solana collections, such as Claynosaurz and Chads, have recorded noteworthy gains in both floor price and trading volume. These developments in the NFT market, fueled by the rise in major cryptocurrencies like Bitcoin and Ethereum, signify a renewed interest and confidence in digital collectibles. The robust surge in both Ethereum and Solana ecosystems suggests a broader market shift and positive sentiment towards NFTs in the current crypto landscape.
