Azuki, Doodles and Pudgy Penguins by DailyCoin

• Major NFT pools such as Azuki and Doodles have increased their volume by more than 250% in the last 24 hours.
• NFT collection Pudgy Penguins crossed the floor price of seven ETH for the first time.
• The volume of NFTs is showing strength, with DeGods and y00ts accounting for almost 50% of this volume.

NFT volume has picked up over the past 24 hours, led by three major rallies: Azuki, Doodles and Pudgy Penguins. At the time of writing, Azuki’s volume was up 252% with a floor price of 16.8 ETH, and Doodle’s volume was up 286% with a floor price of 7.50 ETH. Meanwhile, Pudgy Penguins saw its floor price cross seven ETH for the first time.

.tweet-container,.twitter-tweet.twitter-tweet-rendered,blockquote.twitter-tweet{min-height:261px}.tweet-container{position:relative}blockquote.twitter-tweet{display:flex;max-width :550px;margin-top:10px;margin-bottom:10px}blockquote.twitter-tweet p{font:20px -apple-system,BlinkMacSystemFont,”Segoe UI”,Roboto,Helvetica,Arial,sans-serif}.tweet- container div:first-child{ position:absolute!Important }.tweet-container div:last-child{ position:relative!Important }

So far there have been 13 NFT sales over 100 ETH in 2023. All have been in 3 collections: Azuki & BAYC liked the most, then Punks. pic.twitter.com/oQV8ZjTRcv

— NFTstatistics.eth (@punk9059) January 4, 2023

Biggest sale in the last 24 hours

In the last 24 hours, the biggest sales for Azuki were 170 ETH, nine ETH for Doodles and 11.88 ETH for Pudgy Penguins. Volumes have been on an upward trend with these collections since the beginning of the year, and the market is showing signs of bullish intent.

Cuteness season.A basket of Pudgy Penguins, Sappy Seals, Kanpai Pandas, Lil Pudgys is up 300% since November 15th. pic.twitter.com/ZiS3PtWlmE

— NFTstatistics.eth (@punk9059) January 4, 2023

The upward trend in volume can be seen across the NFT market, with many other projects showing solid signs of volume. In the more popular segment, the Bored Apes collection saw a sale of 300 ETH, while Crypto Punks saw a sale of 87.9 ETH on the open market in the last 24 hours.

On the other hand, NFT-based DeFi projects like Bend DAO issued over 300 new loans against BAYC. NFT-based AMMs such as SudoSwap have also witnessed a surge in volume recently, as the seven-day volume has crossed $200,000 on the protocol. Demand for NFT collection has not been limited to the chain, with Solana showing signs of increasing volume. Among the Solana NFT ecosystem, DeGods and y00ts account for nearly 50% of this volume.

On the other side

• Crypto markets have shown signs of relative strength this year, but the rise in volume in NFT markets should not be seen as a change in market conditions. NFT collectors should exercise caution when making purchases.

Why you should care

NFTs are a growing industry that crossed an all-time volume of over $30 billion last year. The market is expected to grow even more as it finds uses outside of digital art.

Other news on NFTs:

Magic Eden Gets Nasty With Explicit NFTs As Solana (SOL) Shoots Up 18%

See the original on DailyCoin