Original Title: "Coverage on Pudgy Penguins, Mad Lads and CryptoPunks"
Author: OurNetwork
Translation: Deep Tide TechFlow
Comments from the editorial team:
NFTs created a buzz in 2021, but the market quickly cooled down, leading to much controversy and reflection. After featuring the Bored Ape image on its cover, "Rolling Stone" even published an article stating that NFTs are worthless.
However, surprisingly, some areas of the NFT market remain active. Data shows that as of December 16, the market capitalization of the top 10 NFT projects has increased by $2.5 billion in the past 30 days, indicating that the market is undergoing new changes.
Recently, NFT market activity has been frequent, especially as holders of Pudgy Penguins and Lil Pudgys earned approximately $58,000 and $6,000, respectively, from the PENGU project. Currently, the valuation of the PENGU project has reached $2.7 billion. Additionally, Miladys has launched an ecosystem token, and Azukis is also widely believed to be about to launch a similar token reward mechanism.
In the context of ongoing exploration and experimentation with ecosystem tokens, now is a good time to revisit the on-chain data of this area that many have given up on. Let’s dive deeper.
NFTs
Pudgy Penguins | Mad Lads | CryptoPunks
Expectations for PENGU, ANIME, and Opensea token airdrops drive NFT total market value close to $11 billion
- Driven by speculation related to PENGU and ANIME tokens, the NFT market has seen significant growth. In the past 30 days, the floor price of Igloo Company's collectibles has seen a three-digit increase—before the PENGU airdrop, the price of Pudgy Penguins rose by 345%. Meanwhile, Chiru Labs' Azukis also achieved a 170% increase. These gains reflect the market's anticipation of token reward mechanisms, which have proven effective in boosting user engagement in the past. Additionally, rumors about the Opensea token airdrop further boosted market sentiment.
- The brand rankings from NFT Price Floor show the dynamic changes in the market. Among the top four brands, Igloo Co.'s market capitalization increased by 377% in the past 30 days, while Chiru Labs grew by 188%. In contrast, Yuga Labs and Art Blocks saw smaller growth but were still positively impacted by the market.
- The same trend is evident in the top trades over the past 7 days. Among the 12 top trades, there were 6 Pudgy Penguins and 2 Azukis, with transaction prices ranging from approximately $500,000 to $175,000. This indicates that the market's attention and demand for Igloo Company and Chiru Labs collectibles are rapidly increasing.
- Trading Focus: The NFT market has also been influenced by the "meme culture" trend. This year, Meme NFT collections like Sproto Gremlins, Milady, and Project Aeon have performed strongly, while the Pepe series remains dominant among high-end Meme NFTs. In this context, Nakamoto Cards have become the ultimate target for collectors. Notably, an increasing number of investors are hoarding these cards, as evidenced by a recent transaction where one wallet purchased two Nakamoto Cards within just five days. This indicates that demand for top collectibles is heating up.
Pudgy Penguins
Pudgy Penguin floor price breaks 30 ETH, then falls back to 16 ETH after airdrop
- Following the announcement of the PENGU token launch, the floor price of Pudgy Penguins briefly surpassed 30 ETH, more than three times the floor price at the beginning of November, and over half of the historical high price in February 2024. However, after today's airdrop was completed, the floor price fell back to 16 ETH. Meanwhile, trading volume significantly increased, reaching a peak of 8,200 ETH today. As of December 17, the PENGU tokens allocated to each Pudgy were valued at approximately $58,000. Despite the airdrop having started, the number of buyers continues to grow.
- Compared to other Ethereum NFT collections, Pudgy Penguins have gained significant attention recently. Since early December 2024, their trading volume has accounted for over one-third of the total trading volume of Ethereum NFTs, a proportion 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.
- Based on the current floor price, two-thirds of Pudgy Penguin holders have seen their asset values double, with half of the holders experiencing returns exceeding 10 times. Nevertheless, only 5% of holders have sold, while over 19% of holders are still actively accumulating during the floor price correction.
- 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, the airdrop value for each Pudgy is approximately $58,000, while the airdrop value for each Lil Pudgy is about $6,000 (data as of writing).
Mad Lads
Mad Lads market share grows 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 series has seen a 10% increase in market share, currently accounting for 15% of the Solana NFT market. The current floor price is 66 SOL, approximately $15,000, as Mad Lads continues to solidify its status as a star project, reflecting a resurgence in overall ecosystem activity and interest.
- The trading volume of Solana NFTs has surged in the past month, with an average daily trading volume reaching 16,000 SOL, a 100% increase from before. Flagship series, including Mad Lads, now account for over 20% of the market share, indicating renewed interest and investment enthusiasm in the Solana NFT ecosystem.
- The number of new buyers for Mad Lads has significantly increased, with a 20% growth in accounts making their first purchase in the past week. These new buyers now account for over 50% of the total daily buyers, indicating sustained interest in the series and attracting more new users.
Crypto Punks
Diego Cabral|Website|Dashboard
65% Loyalty: CryptoPunks holders have held on for over two years during the NFT bear market
- As the first iconic NFT collection, CryptoPunks, based on 10,000 pixel-style characters, pioneered the PFP (profile picture) movement. Despite a continuous decline in its price relative to ETH since 2021, CryptoPunks is still regarded as a cultural symbol and maintains a high retention rate among collectors. Data shows that approximately 65% of holders have held their NFTs for over two years, and 59.3% of holders have never sold. This indicates that CryptoPunks holders are more likely to be collectors or long-term investors rather than NFT speculators looking to profit through frequent trading.
- Data also shows that CryptoPunks holders exhibit high loyalty. For example, there are 12 wallets holding more than 20 CryptoPunks for over 600 days, and another 5 wallets have held for over 1,000 days without making any sales. This reflects the holders' confidence in a price rebound and a preference for long-term holding, as well as their recognition of the cultural value of CryptoPunks.
- 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 overall decline in NFT market popularity, indicating that their holders are more focused on long-term value rather than short-term speculation compared to other major collections.
- 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 valued at over $31 million). The second-largest transaction took place two years later in March 2024, when Punk #7804 was sold for 4,850 ETH. Although the current bull market has reignited 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).
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
