The recent rise in the value of Bitcoin and Ethereum has led to a significant boost in various NFT markets. In particular, collections based on Ethereum and Solana are experiencing a surge in value and interest. Pudgy Penguins, an Ethereum-based collection, has seen a 77% increase in its USD floor price over the past week, while trading volume has escalated by 397%. This surge indicates a strong recovery and growing investor confidence in NFTs linked to these blockchain networks.
Significant increases in major NFT collections
Other Ethereum NFT collections are also riding the wave of this revival. Azuki’s floor price has increased by 25%, and stalwarts like Bored Ape Yacht Club and CryptoPunks have seen increases of 30% and 15%, respectively. Even the controversial Milady Maker collection has seen a floor price increase of over 70%. These trends underscore a broader market revival beyond individual projects and signal a possible end to the long NFT winter.
Solana collections join the upswing
The positive trend isn’t limited to Ethereum alone. Solana‘s NFT collections are also experiencing significant growth. Mad Lads, a prominent Solana project, has seen its floor price jump 52.6% and is now valued at an impressive $10,219. This growth is not only due to the recent Solana rally, but also to the unique benefits offered to holders, such as connections to the Backpack app and an upcoming crypto exchange.
Other Solana collections, such as Claynosaurz and Chads, have also seen significant gains in floor price and trading volume. Significantly, recent developments in the NFT market, fueled by the rise of major cryptocurrencies such as Bitcoin and Ethereum, indicate a rejuvenated interest and confidence in digital collectibles.
