Ethereum NFT Collections Surge

Leading Ethereum NFT collections, including Pudgy Penguins and CryptoPunks, saw significant gains over the past 24 hours influenced by a broader crypto market rise and rumors of a “JPEG reserve.”

At peak, Pudgy Penguins rose by 11.72% while CryptoPunks gained 8.64%, with their floor prices reaching $23,120 and $82,211, respectively. However, these prices have retraced slightly, now up 5.87% and 4.9%.

Other noteworthy collections, such as Yuga Labs’ Bored Ape Yacht Club and Lil Pudgys, also rose by at least 5%.

These gains were fueled by comments from President Donald Trump regarding asset inclusion in a strategic crypto reserve, including Bitcoin and Ethereum.

Additionally, Pudgy Penguins leader Luca Netz sparked excitement in the NFT community with his remarks about a potential “strategic JPEG reserve,” hinting at upcoming developments for their JPEGs.

> “I’ve been working on something for our JPEGs.”
> 🔜 Link
> — Luca Netz 🐧✳️ (@LucaNetz) March 2, 2025

Netz’s comments align with earlier statements from the Pudgy Penguins parent company, Igloo Inc., which expressed its commitment to advancing institutional and commercial crypto adoption, mentioning the project’s token PENGU and Pudgy Penguins NFTs.

Despite the recent price increases and trading volume spikes, NFT trading has historically been low over the past month, with trading volumes down 44% and 46% on Ethereum and Solana, respectively, according to CryptoSlam data.