Pudgy Penguins overtakes BAYC as second-largest NFT collection by market cap
Pudgy Penguins’ floor price jumped 8.4% in the past 24 hours to 22.1 ETH ($86,922), boosting its market cap to $772.5 million.BAYC’s market cap stood at $755 million, while CryptoPunks remained the largest NFT collection with a market cap of $1.5 billion.
Pudgy Penguins, a popular non-fungible token project, has overtaken Bored Ape Yacht Club to become the second-largest NFT collection by market capitalization.
Pudgy Penguins’ floor price jumped 8.4% over the past 24 hours to 22.1 ETH ($86,922), marking a weekly increase of 44.9%, according to CoinGecko data. This boosted its market cap to $772.5 million, surpassing BAYC’s $755 million. CryptoPunks remains the largest NFT collection, with a market cap of $1.5 billion.
The rise in Puddgy Penguins NFTs follows last week’s announcement of an upcoming official token airdrop. The project is expected to launch its crypto token named “Pengu” on the Solana network this month, with a total supply of 88,888,888,888 tokens. According to a post on X, it plans to allocate 25.9% of the supply to the Pudgy community.
