Author: OurNetwork
Compiled by: TechFlow
Comments from the editorial team:
NFTs were once a hot topic in 2021, but the market quickly cooled down, sparking a lot of controversy and reflection. (Rolling Stone) even published an article stating that NFTs are worthless after putting Bored Ape's image on the cover.
However, unexpectedly, some areas of the NFT market remain active. Data shows that as of December 16, the market value of the top 10 NFT projects has increased by $2.5 billion in the past 30 days, showing that the market is undergoing new changes.
NFT Price Floor
Recently, NFT market activity has been frequent, particularly with holders of Pudgy Penguins and Lil Pudgys earning approximately $58,000 and $6,000 from the PENGU project, respectively. Currently, the valuation of the PENGU project has reached $2.7 billion. Additionally, Miladys has launched ecosystem tokens, and Azukis are widely believed to be launching a similar token reward mechanism soon.
In the context of ongoing exploration and experimentation with ecosystem tokens, now is a good time to revisit this area of on-chain data that many have abandoned. Let's delve deeper.
NFTs
Pudgy Penguins | Mad Lads | CryptoPunks
Diario | Dashboard
Expectations for the PENGU, ANIME, and Opensea token airdrops have driven the total NFT market cap close to $11 billion.
Driven by speculation related to PENGU and ANIME tokens, the NFT market has experienced significant growth. In the past 30 days, the floor price of Igloo Company's collectibles has seen triple-digit increases — Pudgy Penguins' price rose by 345% before the PENGU airdrop. Meanwhile, Chiru Labs' Azukis also achieved a 170% increase. These increases reflect market expectations for token reward mechanisms, a strategy that has proven effective in boosting user engagement in the past. Additionally, rumors about the Opensea token airdrop further bolstered market sentiment.
NFT Price Floor
The brand ranking of NFT Price Floor reflects the dynamic changes in the market. Among the top four brands, Igloo Co. has seen a 377% market cap growth in the last 30 days, while Chiru Labs has grown by 188%. In contrast, Yuga Labs and Art Blocks have shown smaller growth, but have also been positively impacted by the market.
NFT Price Floor
In the top trades of the past 7 days, similar trends remain evident. Among the 12 top trades, there were 6 Pudgy Penguins and 2 Azukis, with transaction prices ranging from about $500,000 to $175,000. This indicates a rapid increase in market interest and demand for Igloo Company and Chiru Labs collectibles.
NFT Price Floor
Trading Focus: The NFT market has also been influenced by the craze of 'meme culture'. This year, meme NFT collections such as Sproto Gremlins, Milady, and Project Aeon have performed strongly, while the Pepe series continues to dominate high-end meme NFTs. In this context, Nakamoto Cards have become the ultimate target for collectors. Notably, more and more investors are starting to hoard these cards; for instance, in a recent transaction, one wallet purchased two Nakamoto Cards within just five days. This indicates that demand for top collectibles is heating up.
Pudgy Penguins
Maus | Website | Dashboard
After Pudgy Penguin's floor price surpassed 30 ETH, it has fallen back to 16 ETH due to the airdrop.
After the announcement of the PENGU token launch, the floor price of Pudgy Penguins once broke through 30 ETH, more than three times the floor price in early November, and exceeded half of the historical peak price in February 2024. However, after today's airdrop completion, the floor price has dropped back to 16 ETH. Meanwhile, trading volume increased significantly, reaching as high as 8,200 ETH today. As of December 17, each Pudgy has been allocated PENGU tokens valued at approximately $58,000. Despite the airdrop having started, the number of buyers continues to grow.
Dune - @mausefalle
Compared to other Ethereum NFT collections, Pudgy Penguins have recently gained significant attention. Since early December 2024, its trading volume accounted for over one-third of the total Ethereum NFT trading volume, more than double that of other blue-chip NFT collections like CryptoPunks and Bored Apes. On the day of the PENGU airdrop, Pudgy Penguins' trading volume accounted for over 50% of the total Ethereum NFT volume.
Dune - @mausefalle
Based on the current floor price, two-thirds of Pudgy Penguin holders have seen their asset values double, with half of the holders achieving returns of over 10 times. Nevertheless, only 5% of holders have sold, while over 19% of holders are still actively accumulating during the floor price pullback.
Dune - @mausefalle
Trading Focus: PENGU is the official token of Pudgy Penguins, officially launched on December 17, with a total supply of 88,888,888,888 tokens, and has been listed on major centralized exchanges. As of now, over 20% of the tokens have been claimed. Based on the current price, each Pudgy's airdrop value is approximately $58,000, while each Lil Pudgy's airdrop value is approximately $6,000 (data as of writing).
Mad Lads
h4wk | Website | Dashboard
Mad Lads' market share has grown by 10%, currently accounting for about 15% of the Solana NFT market, with a floor price of 66 SOL (approximately $15,000)
In the past month, the Solana NFT market has regained attention, with Mad Lads performing particularly well. The collection's market share has increased by 10%, currently accounting for 15% of the Solana NFT market, with a current floor price of 66 SOL, approximately $15,000. Mad Lads continues to solidify its status as a star project, reflecting a rebound in overall ecosystem activity and interest.
Flipside - @h4wk
Trading volume in the Solana NFT market surged in the past month, with an average daily trading volume reaching 16,000 SOL, a 100% increase from before. Flagship collections, including Mad Lads, now account for over 20% of the market share, reflecting renewed attention and investment enthusiasm in the Solana NFT ecosystem.
Flipside - @h4wk
The number of new buyers for Mad Lads has significantly increased, with accounts making their first purchase rising by 20% in the past week. These new buyers now account for more than 50% of total daily buyers, indicating sustained market interest in the series and attracting more new users.
Flipside - @h4wk
Crypto Punks
Diego Cabral | Website | Dashboard
65% Loyalty: CryptoPunks holders have held on during the NFT bear market for over two years.
As the first iconic NFT collection, CryptoPunks, based on 10,000 pixel-style characters, pioneered the PFP (profile picture) movement. Despite a continuous price decline relative to ETH since 2021, CryptoPunks are still regarded as a cultural symbol and maintain a high retention rate among collectors. Data shows that approximately 65% of holders have owned their NFTs for over two years, while 59.3% have never sold. This indicates that CryptoPunks holders tend to be collectors or long-term investors rather than NFT speculators seeking short-term profits through frequent trading.
Dune - @denze
Dune - @denze
Data also shows that CryptoPunks holders exhibit high loyalty. For example, 12 wallets have held more than 20 CryptoPunks for over 600 days, with another 5 wallets holding for more than 1,000 days without any sales. This reflects holders' confidence in price rebounds, preference for long-term holding, as well as recognition of the cultural value of CryptoPunks.
Dune - @denze
Since May 2022, the floor price of CryptoPunks has dropped from 65 ETH to 27 ETH. In contrast, the combined floor price of the top 100 NFT collections on Ethereum has fallen from 591 ETH to 61 ETH. CryptoPunks have shown stronger resilience against the decline in overall NFT market interest, indicating that its holders are more focused on long-term value rather than short-term speculation compared to other major collections.
Dune - @denze
Trading Focus: The largest transaction in CryptoPunks history occurred on February 12, 2022, when Punk #5822 was sold for 8,000 ETH (worth over $23 million at the time, now worth over $31 million). The second largest transaction occurred two years later in March 2024, when Punk #7804 was sold for 4,850 ETH. Although the current bull market has rekindled interest in NFTs, it remains to be seen whether market demand can quickly surpass the record transaction amount of Punk #5822 (approximately 65% higher than the second largest transaction earlier this year).
