Mad Lads | Pudgy Penguins | NodeMonkes | CryptoPunks | Milady Maker

• In the last 30 days, total volume across the top 4 blockchains reached +$300M. Ethereum accounts for 42%, Solana 23.5%, Bitcoin 18%, and Polygon 16.5%. While Ethereum's market dominance has declined from previous years —in 2023 it held ~70%— the blockchain still dominates the high-end NFT market. Case in point, among the top 30 sales over this period —excluding 1-of-1 NFTs— Ethereum secured 29 spots, with Solana claiming just 1. Notably, the top 3 of those Ethereum sales were CryptoPunks, 1 with the ape trait & 2 with the zombie one — each sold for +$1M USD.

• For comparison, among Solana’s top 30 sales over the past 30 days, only 1 sale exceeded $100k. 13% of sales fell between the $30k to $40k range, while 84% ranged from $10k to $15k. As for Bitcoin, the top 4 sales were in the $60k to $65k range, 20% between $25k & $40k, and 66% around the $20k mark.

• Among last month’s top 30 sales —excluding 1-of-1s— 23 are from Larva Labs, and 1 each are from Dmitri Cherniak & from Tyler Hobbs, both artists who are regularly top sellers of 1-of-1 collections. NFT Price Floor's Artist Ranking, which ranks artists by their collections' market caps, highlights a different name: XCOPY, another NFT artist leads here with a 13% market cap increase, propelling him into the top 4.

• In Mad Lads first month following the NFT collection's April 2023 launch, there were 3.9k buyers contributing trading volume of 946,000 SOL, which is $137M in today's prices. From mid-2023, Mad Lad's SOL-denominated prices would fall from nearly a 100 SOL peak, only to ascend in March 2024 to a median price of 185 SOL —$29,440 at the time— before declining and stabilizing at 61 SOL —$8,200— in August 2024. Mad Lads' current price is 6.25 times higher than the first-month price in USD.

• 38% of Mad Lads holders did so with wallets created more than a year before the purchasing the NFTs — this shows that a sizable proportion of Mad Lads purchases are long-time Solana users, signally loyalty and extensive engagement with the network.

• Looking at other NFTs in the collections of Mad Lads holders reveals the Claynosaurz collection with a 21.67% overlap. Other notable crossovers include Lily, Tensorians, The Heist, and Okay Bears, which have a 14-18% overlap rate.

• Pudgy Penguins are currently the 3rd biggest NFT collection by market cap across all chains. Since going live in July 2021, Pudgys consistently grew their market share and have consistently accounted for 5-15% of ETH-based NFT volume since Dec 2023. This coincides with a floor peak of 20 ETH with a subsequent decline. Pudgys' floor has been hovering around 10 ETH since April 2024 which is substantially higher compared to other "blue chip" NFT collections by percentage distance to all-time highs.

• In the last 12 months, a significant cluster of sales occurred around the 10 ETH price point, suggesting strong market consensus on the current floor of Pudgys. Additionally, smaller spikes appear around 5.9 ETH and 19.9 ETH, highlighting secondary price concentrations.

• A significant number of holders have a cost basis significantly below the current price (black line), indicating profitable positions for most. Some holders have much higher cost bases, up to 40 ETH, indicating that those bought 'rare' Pudgys.

• Summer was bleak for Ordinals, with leading collections experiencing drawdowns of 70-80% or more. There are signs that the bottom may be in however — NodeMonkes have led a rebound rally in Ordinals and are up 94% off a local bottom of 0.095 BTC marked on Sept. 6. They are now at 0.18 BTC, a level not seen since June 20 — effectively erasing the entire summer drawdown.

• Cross-blockchain NFT trading volume metrics back up the demand for NodeMonkes. According to Cryptoslam data, NodeMonkes were 6th in volume for all NFTs in the past 30 days with $8.6M. They are the #1 collection by volume on Bitcoin by a wide margin (58%) and ahead of all ETH NFT besides CryptoPunks.

• Not only is floor price at local highs, trading volume is as well. NodeMonkes generated nearly $1M in volume in a single day on Sept. 23 —$983,057 to be exact. That's the highest single-day of volume since June 28, so nearly a 3-month high.

• CryptoPunks reached a local low of 19.7 ETH on Aug. 4, following a challenging year for both the Punks collection and the broader NFT market. As of Sept. 22 however, the floor price has rebounded 46.6% to 28.89 ETH. The collection still remains down nearly 75% from its all-time high of 113.9 ETH reached in October 2021.

• In the last 30 days, several notable Punk sales took place, including an Ape that sold for 620 ETH —over $1.6M— marking the first Ape sale since September 2022. A Punk with the zombie and hoodie traits, was also bought and then flipped within three days for a 75 ETH profit. And 0x_b1, a crypto "whale" bought a Hoodie Punk with 3D glasses for 300 ETH.

• In the past 30 days there were 164 Punk sales totaling over $18.5M. The busiest day was Aug. 20, with over $3.5M in sales. Transactions spanned all three tiers—grails, mids, and floors— though well-priced mids saw a lot of attention.

• The NFT airdrop meta —the narrative that holding NFTs leads to airdrops— has significantly benefited the Milady NFT collection. Within a span of two months, Miladys were eligible for over three significant airdrops from Ethena, Omni, and zkSync (along with Pudgy Penguins), leading to price appreciation as buyers anticipating further "free tokens." However, it's now been almost three months since Milady holders have been eligible for any free token airdrops which may be a driver behind the collection's decrease in price and volume.

• Despite the considerable reduction in floor price, the top 100 Milady holders appear unconcerned as they did not lower their milady NFT holdings in the last 30 days.

• Since peaking earlier this year, transactions and unique purchasers of Miladys have been steadily declining. However, the Remilia official ecosystem token, $CULT, which raised $20M during pre-sale could reignite trading activity and interest — each Milady is eligible for the airdrop, which is valued around $2300 as of now.