All major Ethereum NFT collections, such as Pudgy Penguins and Cryptopunks, have all climbed over the past 24 hours as rumors of “JPEG Reserve” spread as the broader crypto market rose.
At one point, Pudgy Penguins rose 11.72%, while Punk won 8.64%, boosting the lowest priced assets in the market to floor prices, or $23,120 and $82,211 respectively. These prices have since been receding as the market recedes with a rise of 5.87% and 4.9%, respectively.
Other notable collections like Yuga Labs’ boring Ape Yacht Club and Lil Pudgys have risen at least 5%.
Profits were supported by extensive crypto rebounds behind comments from President Donald Trump about which assets include Bitcoin and Ethereum. Strategic Cryptocurrency.
In addition to Trump’s comments, Pudgy Penguins leader Luca Netz commented on a post about “strategic JPEG reserve” in the NFTS world, telling her followers that she suggests that more information will be released soon when she tells her followers “we’ve been working on something for JPEG.”
I’ve been working on something for JPEG.
https://t.co/hxmwjonbcr
-Luca Netz🐧✳️ (@lucanetz) March 2, 2025
Netz’s comments will be added to a January post from Igloo Inc., the parent company of Pudgy Penguins. It states that it is “committed to pushing the boundaries of what institutional and commercial adoption of cryptographic applications will look like.” and Pudgy Penguins nfts.
However, there is no further detailed breakdown of what that may mean yet. Decryption Representatives of Igloo Inc. and Pudgy Penguins have been contacted for comment.
On the last day, prices and volumes rose sharply over the last 24 hours, but NFTs were not the focus of their major trading activities last month. According to Data from CryptoslamEthereum and Solana NFT collection trading volumes have fallen by 44% and 46% over the past 30 days, respectively.
