Leading Ethereum NFT collections like Pudgy Penguins and CryptoPunks all climbed over the past 24 hours as the broader crypto market rose, and as rumors of a “JPEG reserve” circulated.
At one point Pudgy Penguins were up as much as 11.72% while Punks gained 8.64%, pushing their floor prices, or the lowest priced asset on a marketplace, as high as $23,120 and $82,211 respectively. Those prices have since retraced as markets have retreated with the pair up 5.87% and 4.9%, respectively.
Other notable collections like Yuga Labs’ Bored Ape Yacht Club and Lil Pudgys have risen at least 5% as well.
The gains were buoyed by a widespread crypto rebound on the back of comments from President Donald Trump about which assets, like Bitcoin and Ethereum, would be included in a strategic crypto reserve.
In addition to Trump’s comments, Pudgy Penguins leader Luca Netz sparked speculation and optimism in the NFTs’ world when he…
