PiCK

Pudgy Penguins Surpasses BAYC to Rank 2nd in NFT Market Cap

Bloomingbit Newsroom

Summary

Pudgy Penguins announced that it has surpassed BAYC to rank second in NFT market capitalization.
The market growth of Pudgy Penguins was influenced by the news of an official token airdrop.
Pudgy Penguins announced that it will soon launch the 'Pengu' token on the Solana network.

The popular non-fungible token (NFT) project Pudgy Penguins has surpassed the Bored Ape Yacht Club (BAYC) to rank second in NFT market capitalization.

According to CoinGecko data cited by The Block on the 9th (local time), Pudgy Penguins' market cap reached $772.5 million, surpassing BAYC's $755 million, thus ranking second in overall NFT market cap. Currently, the top NFT by market cap is 'CryptoPunks' with a market cap of $1.5 billion.

Meanwhile, the floor price of Pudgy Penguins rose by 8.4% in the last 24 hours to 22.1 ETH, and increased by 44.9% over the past week. This upward trend is related to the recent announcement of an official token airdrop. Pudgy Penguins plans to launch a token named 'Pengu' on the Solana (SOL) network this month, with a total issuance of 88,888,888,888 tokens. Of these, 25.9% will be allocated to the Pudgy community.