Some of the most popular NFT projects are recording a surge in floor prices, inspiring speculation that the frenzy around these digital collectibles is rising.
Ethereum kicked off a possible NFT season with the unveiling of its NFT Torch ahead of its 10-year anniversary tomorrow.
CryptoPunks and Moonbirds Floor Price Surge Signals a Potential NFT Season Comeback
SponsoredData on the OpenSea NFT marketplace shows the floor price of CryptoPunks is up by nearly 8% to 53.85 ETH as of this writing. This surge coincides with the popular NFT frenzy around the Ethereum blockchain’s popular NFT.
Analysts highlight an ongoing buying frenzy around CryptoPunks, with one user buying 6 of these digital collectibles worth over $1.3 million during the early hours of the Asian session.
Similarly, Moonbirds NFTs are also witnessing a surge in interest. This adds credence to the perception that the NFT season may be here.
However, for Moonbirds, sellers are quickly turning in for early profits. Data on OpenSea shows the floor price is down by over 20% in the last 24 hours.
Notwithstanding, the floor price of Moonbirds NFTs has remained over 300% the last month, reinforcing optimism of an abounding NFT season. Against this backdrop, some users say Moonbirds may lead the NFT comeback.
Sponsored Sponsored“It looks like Moonbirds could be making one of the biggest NFT comebacks,” wrote Sennin, a financial analyst and NFT trader.
Beyond CryptoPunks and Moonbirds, traders are also examining CloneX NFT, which doubled the floor price over the weekend.
Given its previous downtrend, triggered by the discontinuation of its parent company (RTFKT) by Nike in late 2024, the floor price recovery suggests resuming interest.
“Recent comments from one of the RTFKT co-founders and from Nick (who originally broke the news of the closure) now kind of hint a possible CTO or sale of the project. With the recent comeback of Moonbirds (20x since acquisition), it looks like people are speculating on a similar scenario” wrote Wale.moca, an NFT researcher at Azuki.
Nevertheless, Wale.moca urges users to temper their optimism, citing allegations or links of CloneX with insider trading claims.
Amidst the FUD (fear, uncertainty, and doubt), the NFT researcher indicates that other market contenders like Pudgy Penguins (PENGU) and Moonbirds NFT could overshadow Clone X.
SponsoredEthereum’s NFT Torch Rekindles Digital Collectible Frenzy
In hindsight, Ethereum sparked the NFT resurgence just over a week ago with the launch of its NFT Torch. Following this move, capital started rushing into NFT projects, and talks of an NFT season have spread since.
Data on Ethereum.org shows that Anthony Sassano, founder of the Daily Gwei, is the current holder of Ethereum’s NFT Torch. Sassano takes the baton from Ukraine’s Alex Bornyakov.
Following Ethereum’s NFT Torch announcement, one user bought 45 CryptoPunks NFTs for nearly $8 million.
Pudgy Penguins, which was in the limelight amid the PENGU ETF, was seen as inadvertent collateral damage amid speculation that capital would flow back to the earliest NFT projects.
Sponsored SponsoredElsewhere, some users remain skeptical, exercising measured caution that the NFT bubble may burst just as quickly as it grew in recent days.
“Are we betting on Moonbirds flying high again, or is this just another hype cycle?” Rivi, a popular user on X, remarked.
This skepticism is warranted, given the influence of small triggers on the floor price of NFTs. For example, Ozzy Osbourne’s CryptoBatz NFT collection surged over 400% in value following his death.
