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Surge in Ethereum NFT Sales Driven by EtherRock and Bored Ape Yacht Club

Ethereum-native non-fungible tokens (NFTs) are showing signs of resurgence, as evidenced by notable sales this week.

On Feb. 12, Wrapped Ether Rock #46 fetched $496,658, followed four days later by the sale of Bored Ape Yacht Club (BAYC) #1726 for $668,297, marking the second- and third-largest sales of the month, respectively, after CryptoPunk #5363 sold for $1.53 million on Jan. 31.
During the same period, Ethereum's NFT sales volume surged by 99.42% to $159.5 million, fueled by a 25% sales increase in the Nobody collection, which generated $8.76 million in weekly sales. In contrast, Bitcoin's NFT sales declined by 25% to $47.5 million.

Notably, the Pudgy Penguins collection saw its floor price rise to a new all-time high of 21.5 Ether ($53,427) on Feb. 10 before retracing to the current 20.28 ETH ($50,395). Additionally, the collection's seven-day sales volume surged by 143% to $6.8 million, making it the fourth-largest NFT collection by weekly sales volume across all blockchains.

Interest in the Pudgy Penguins collection surged following the announcement of Pudgy World Alpha in December, a blockchain-based open-world gaming experience set to launch in Q1 2024.

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