The past week marked a significant surge in NFT market activity on the Ethereum blockchain, with trading volume rising to $186 million.
Growth of NFT Activity on Ethereum
The NFT trading volume on Ethereum last week reached $186 million, substantially higher than the previous $111 million. This was the highest weekly figure in the last three months.
Success of the Pudgy Penguins Collection
The Pudgy Penguins collection made a significant contribution to this growth with the launch of the $PENGU token, which generated over $108 million in trading. Some NFTs from this collection were traded at 29 ETH.
Ethereum Dominance in the NFT World
While Bitcoin NFT trading volume was only $33 million, Ethereum continues to dominate the market, attracting more attention due to its developed smart contract infrastructure.
The NFT market on Ethereum continues to show steady growth, attracting collectors and buyers with innovative tokenomics offerings and cross-chain interaction potential with networks like Solana.
