NFT Collection Floor Prices Rise on Ethereum

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The non-fungible token market, especially the Ethereum NFT market, is experiencing a short bull run, marked by a significant increase in trading sales volume and floor price values. In fact, the Ethereum NFT trading sales volumes are at their highest point in almost 2 years. Recent assessment shows that most blue-chip NFT collections have seen their floor prices, surging +30% in the past 30 days.

ETH NFT Floor Prices Jump +30% In Dec 2024

Data compiled by CoinGecko.com an on-chain crypto market data aggregator and a multi-chain non-fungible token explorer, indicates that the majority of non-fungible tokens on the Ethereum blockchain network have been increasing at a rapid pace in the past few weeks. Since November, the majority of Ethereum-based NFT floor prices have surged +30% from the previous month.

NFT Collection floor prices on $ETH have been increasing at a rapid pace the past few weeks.

The moment ETH/BTC bounced seemingly gave investors the confidence to start bidding the major ETH NFT collections as well. Betting on a bottom and outperformance by ETH. Q1 is… pic.twitter.com/BpTG45aAPT

— Daan Crypto Trades (@DaanCrypto) December 16, 2024

The NFT market began pumping in early November 2024 shortly after the crypto-friendly Trump was re-elected as the 47th United States President. During his campaign period, Donald J Trump promised to restore an ample trading environment for crypto in the United States. In light of these pledges, the crypto market began pumping. The moment Ether and Bitcoin bounced they gave investors the confidence to start bidding on the major ETH NFT collections as well.

Pudgy Penguins, a non-fungible token created by the toy brand Pudgy Penguins featuring a fixed supply of 8,888 NFTs hosted on the Ethereum blockchain network, has been the highest gainers amid the recent NFT marker craze. In the past 30 days, the Pudgy Penguins NFT collection has seen its floor price value jump past 30 ETH. During this time, the Pudgy Penguins NFT Floor has surged +200% from the past month.

Blue Azuki, a non-fungible token collection from the digital asset incubation studio Chiru Labs that features a limited edition of 10,000 NFTs, is another NFT gainer in the recent NFT market bull run. In the past 30 days, the Azuki NFT collection has seen its floor price pumping back to past 10 ETH. During this period, the Azuki NFT floor price has surged more than 100% from the past month.

On the other hand, Ethereum-based NFT coins have also surged during the recent NFT market bull run. In the past 24 hours, $BLUR, the utility token for the Blur NFT marketplace, has seen its price rise above $0.44. Once it breaks this level, it’s predicted to expand higher to the yearly/cycle highs at $0.85+. BLUR has been respecting its horizontal levels very well so these will be good to keep an eye on. $ME, which launched last week, is performing so well, trading at $3.6B FDV.

Blur And OpenSea Dominate ETH NFT Market

Blur, a non-fungible token marketplace designed for professional traders, and OpenSea, another leading non-fungible token marketplace, are the market leader in terms of trading sales volume in the Ethereum blockchain network. In the past 30 days, the OpenSea NFT marketplace has raised 6300 ETH, while the Blur NFT marketplace has amassed a trading volume of 2,400 ETH.

Source: nftpulse.org, NFT marketplace sales volume

Nonetheless, the average market participant still seems relatively unaware that Ethereum NFTs are pumping and the easiest way to get exposure would be through NFT Marketplace tokens and other NFT coins as many of these NFT collections are expensive and priced out a lot of investors already. The Pudgy Penguins, Milady Maker, and Magic Eden have unmasked this super trick and have recently launched their utility tokens.