Pudgy Penguins surpassed BAYC and became the second largest NFT in market value! Token Pengu airdrop makes great contributions

NFT project Pudgy Penguins has performed strongly recently, and its market value has successfully surpassed Bored Ape Yacht Club (BAYC), and has jumped to the second largest market value of NFT collectibles! Its token Pengu airdrop plan has made an indelible contribution.

Pudgy Penguins floor price soared

CoinGecko data shows that Pudgy Penguins floor price has risen 8.4% in the past 24 hours to 22ETH, with a weekly increase of up to 44%. This puts its market capitalization exceeding $770 million, surpassing BAYC's $750 million. Currently, CryptoPunks still occupies the leading position in the NFT market with a market value of US$1.5 billion.

Pengu Airdrop Plan: Growth Engine

Pudgy Penguins' significant growth is mainly due to the official launch of the Pengu Token Airdrop Plan. The plan will issue Pengu tokens on the Solana chain in the near future, with a total of 888,888,888,888, of which about 25.9% will be airdropped to the Pudgy Penguins community.

However, the specific application scenarios of Pengu tokens and their association with the Pudgy Penguins community have not been explained in detail by the official.

Signs of recovery in the NFT market?

Although the NFT market has continued to be sluggish since its 2022 high, recent trading data shows signs of recovery in the market. CryptoSlam data shows that from December 1 to December 8, Ethereum NFT trading volume reached US$91 million, a significant increase from the previous week, setting a record high weekly trading volume since the end of March.

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