Ethereum: Who Takes the Spotlight as Blue Chip NFTs Leave?

• The volume of blue chip pools, including BAYC, Otherdeed and MAYC, all fell around the same period
• Other not-so-popular collections made up for the decline, but there were no significant changes.

Ethereum [ETH] NFTs like Otherdeed, Moonbirds and Bored Ape Yacht Club [BAYC] was almost always on the list of collections with the most daily wins. Historically, in cases where some do not fall into the fray, others still join those with the most sales volume and transactions.

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But on February 23, BAYC, Mutant Ape Yacht Club [MAYC], Otherdeed and Azuki recorded massive declines as attention shifted to other collections. In accordance CryptoSlamMAYC still led the volume ranking, but that was only because of NFT’s high floor prices.

At press time, MAYC sales volume was $14.88 million – down 8.41% from the previous 24 hours. Transactions were also down to 564, with reduced involvement of buyers and sellers. In BAYC’s case, it dropped to fifth position. However, it suffered a more massive decline than Yuga Labs’ counterpart.

Source: CryptoSlam

From the image above, BAYC dumped 52.31% in volume, with double-digit declines in transactions, buyers and sellers. So, which collection has outperformed the usual suspects?

Penguins, Valhalla and KILLABEARS NFTs

In a surprising move, the Pudgy Penguins pool broke into the top 10. Launched in 2021, Pudgy Penguins is an Ethereum-based pool consisting of 8,888 penguin NFTs. The project was also an instant hit during the season when profile picture projects (PFP) were the center of attraction.

At press time, Pudgy Penguin’s sales volume was $2.43 million in the last 24 hours. This represented an increase of 41% within the aforementioned time frame. However, data from the NFT aggregator revealed that an incredible increase in buyer and seller participation was crucial to the landmark. All in all, 297 transactions led to the rise.

However, Pudgy Penguins was just one of many Ethereum NFTs with such a performance. KILLABEARS registered $1.128 million in sales despite being the 16th. However, the most notable increase of the lots was the Valhalla collection.

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The collection, which is a crypto-native brand for gamers, surged 483%, bringing its 24-hour sales volume to $2.43 million.

Source: CryptoSlam

Despite the gigantic progress recorded by these collections, sales of the Ethereum NFT ecosystem were still down. At the time of writing, the total sales volume was $82.12 million – a decrease of 28.53%. Still, the decline in blue-chip fundraising volume may only last a while.