January NFT Blue Chip Recap

The blue-chip NFT market continued its uptrend in market capitalization, rising to $3.05 billion in January 2024 from $2.88 billion in December 2023, marking a decent 5.7% MoM increase. 

Most of this growth can be attributed to Pudgy Penguins, which saw a 57% increase in market capitalization as its floor price spiked to over 15 ether. Pudgy Penguins’ market cap is only behind CryptoPunks’ and Bored Ape Yacht Club’s, both of which saw modest increases in their market caps as well, by 16% and 4%, respectively.