{"id":23936,"date":"2026-05-05T05:26:37","date_gmt":"2026-05-05T05:26:37","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2026\/05\/05\/are-nfts-actually-back-ethereum-pfp-collections-are-rallying-while-btc-and-eth-are-flat\/"},"modified":"2026-05-05T05:26:37","modified_gmt":"2026-05-05T05:26:37","slug":"are-nfts-actually-back-ethereum-pfp-collections-are-rallying-while-btc-and-eth-are-flat","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2026\/05\/05\/are-nfts-actually-back-ethereum-pfp-collections-are-rallying-while-btc-and-eth-are-flat\/","title":{"rendered":"Are NFTs Actually Back? Ethereum PFP Collections Are Rallying While BTC and ETH Are Flat"},"content":{"rendered":"<p><\/p>\n<div>\n<p><span style=\"font-weight: 400;\">Bitcoin and Ethereum have moved mostly sideways over the past seven days, but several Ethereum NFT collections\u2014particularly the blue-chip PFP (Profile Picture) group\u2014have recorded clear gains. <\/span><b>CryptoPunks<\/b><span style=\"font-weight: 400;\">, <\/span><b>Bored Ape Yacht Club<\/b><span style=\"font-weight: 400;\">, and <\/span><b>Pudgy Penguins<\/b><span style=\"font-weight: 400;\"> all rose between 3% and nearly 5% over the week, while 30-day data shows an even stronger recovery momentum in some major collections.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some voices in the community suggest that the recent rally reflects the return of core collectors.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Everyone trying to assume and speculate why the sudden surge in positive sentiment in the NFT space has come back.<\/p>\n<p>Simple \u2026\u2026<\/p>\n<p>The collectors that are true lovers and believers in the art and community have returned.<\/p>\n<p>2026 \u2764\ufe0f<\/p>\n<p>\u2014 Adam Weitsman (@AdamWeitsman) <a href=\"https:\/\/twitter.com\/AdamWeitsman\/status\/2050950284726145096?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">May 3, 2026<\/a><\/p>\n<\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"PFP_Floors_Diverge_From_a_Flat_Crypto_Market\"\/><b>PFP Floors Diverge From a Flat Crypto Market<\/b><span class=\"ez-toc-section-end\"\/><\/h2>\n<p><span style=\"font-weight: 400;\">Major crypto assets have seen no significant fluctuations over the past seven days. Bitcoin is currently trading around $78,600, up about 0.9% for the week, while Ethereum fell slightly by 0.3% to the $2,320 range.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In contrast, many NFT collections recorded gains during the same period. CryptoPunks\u2014the collection with the largest market cap\u2014currently has a floor price of approximately 3<\/span><b>0.95 ETH<\/b><span style=\"font-weight: 400;\">, up 3.6% over the past 7 days. Bored Ape Yacht Club (BAYC) and Pudgy Penguins also rose by about 4\u20135% during the week, indicating a return of interest in this asset class.<\/span><\/p>\n<div id=\"attachment_162077\" style=\"width: 2580px\" class=\"wp-caption alignnone\"><noscript><\/noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-162077\" class=\"lazyload size-full wp-image-162077\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2026\/05\/Screenshot-2026-05-03-at-21.35.55.jpg\" alt=\"NFT Heatmap (30D)\" width=\"2570\" height=\"944\"\/><\/p>\n<p id=\"caption-attachment-162077\" class=\"wp-caption-text\">NFT Heatmap (30D). Source: Coingecko<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">This trend has become even more pronounced in several major collections over the past 30 days. BAYC has surged over 107%, while Pudgy Penguins rose about 36%, and Mutant Ape Yacht Club (MAYC) increased by more than 130% in the same period.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This development reflects a recovery concentrated in specific blue-chip NFT assets rather than a broad market-wide trend.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"A_Blue-Chip_Driven_Rebound\"\/><b>A Blue-Chip Driven Rebound<\/b><span class=\"ez-toc-section-end\"\/><\/h2>\n<p><span style=\"font-weight: 400;\">Notably, the current recovery momentum is almost entirely concentrated in legacy NFT groups on Ethereum. CryptoPunks, BAYC, and Pudgy Penguins currently command the majority of attention and liquidity in the market.<\/span><\/p>\n<div id=\"attachment_162078\" style=\"width: 2708px\" class=\"wp-caption alignnone\"><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-162078\" class=\"size-full wp-image-162078\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2026\/05\/Screenshot-2026-05-04-at-23.09.11.jpg\" alt=\"NFT dominance breakdown \u2013 CryptoPunks, BAYC, Pudgy\" width=\"2698\" height=\"1064\"\/><\/noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-162078\" class=\"lazyload size-full wp-image-162078\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2026\/05\/Screenshot-2026-05-04-at-23.09.11.jpg\" alt=\"NFT dominance breakdown \u2013 CryptoPunks, BAYC, Pudgy\" width=\"2698\" height=\"1064\"\/><\/p>\n<p id=\"caption-attachment-162078\" class=\"wp-caption-text\">NFT dominance breakdown \u2013 CryptoPunks, BAYC, Pudgy. Source: CoinGecko<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">Dominance data shows that CryptoPunks accounts for about <\/span><b>36% of the NFT market share<\/b><span style=\"font-weight: 400;\">, BAYC 12%, and Pudgy Penguins around 6%. These are collections with better liquidity, high brand recognition, and are often viewed as \u201cproxies\u201d for the overall NFT market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, a deeper look reveals that most collections outside the top tier have yet to show a clear recovery. Some projects like <\/span><b>Azuki<\/b><span style=\"font-weight: 400;\">, despite rising sharply over 30 days (+78%), fell in the last seven days (-3.6%), reflecting instability in capital flow. Mid-tier and long-tail collections have recorded almost no significant increase in liquidity.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Thin_Liquidity_Fast_Price_Moves\"\/><b>Thin Liquidity, Fast Price Moves<\/b><span class=\"ez-toc-section-end\"\/><\/h2>\n<p><b>Low liquidity<\/b><span style=\"font-weight: 400;\"> remains a key characteristic of the current NFT market. Total NFT market capitalization is currently around <\/span><b>$1.99 billion<\/b><span style=\"font-weight: 400;\">, down 2.7% in the past 24 hours. Trading volume over 24 hours reached only about $2.6 million, a decrease of nearly 9%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this context, floor price volatility can change rapidly with just a few transactions, as buy orders at higher prices pull the floor up significantly\u2014especially for collections with low listing counts.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This makes the floor price an incomplete indicator of market health. The current rally may reflect a short-term supply shortage or accumulation behavior from a group of collectors, rather than large-scale capital returning to the market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This phenomenon is not appearing for the first time. However, the fact that some blue-chip collections are starting to see gains amidst low liquidity could be seen as a sign that interest is returning.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Not_a_Broad-Based_Recovery_Yet\"\/><b>Not a Broad-Based Recovery Yet<\/b><span class=\"ez-toc-section-end\"\/><\/h2>\n<p><span style=\"font-weight: 400;\">A sustainable NFT recovery cycle is usually accompanied by simultaneous improvement across more indicators than just the floor prices of a few large collections. Factors such as stable trading volume, an increasing number of buyers and sellers, and activity spreading beyond the top-tier group play a crucial role.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Currently, these signals have not clearly appeared. Volume remains low, market cap shows no sustainable upward trend, and most trading activity is still concentrated in a few leading collections.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, the overall crypto market has not provided a clear catalyst. Ethereum\u2014the primary platform for NFTs\u2014is still fluctuating within a narrow range, limiting the potential for capital to expand into riskier assets like NFTs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This suggests the current rally may reflect a correction in some <\/span><b>blue-chip NFTs<\/b><span style=\"font-weight: 400;\">, while broader spillover signals remain limited.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"A_Market_Thats_Trading_Again_%E2%80%94_Not_Fully_Back\"\/><b>A Market That\u2019s Trading Again \u2014 Not Fully Back<\/b><span class=\"ez-toc-section-end\"\/><\/h2>\n<p><span style=\"font-weight: 400;\">The rally of CryptoPunks, BAYC, and Pudgy Penguins shows that the NFT market is <\/span><b>not completely \u201cdead,\u201d <\/b><span style=\"font-weight: 400;\">as many suggested in previous periods. Several major collections continue to attract attention and capital, creating distinct volatility compared to the rest of the market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the scope of the current rally remains limited. Trading activity has not shown clear expansion to collections outside the leading group, while indicators like volume and market cap have yet to confirm a sustainable uptrend. In this context, concluding that \u201c<\/span><b>NFTs are back<\/b><span style=\"font-weight: 400;\">\u201d remains premature.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Instead, the market may be entering a transitional phase, where blue-chip NFTs react earlier to capital before it spreads to collections with lower liquidity.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the short term, the performance of liquidity and trading volume will be key factors in determining whether the current recovery can be sustained and expanded beyond the blue-chip group.<\/span><\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/nftevening.com\/are-nfts-back-ethereum-pfp-collections-rally-flat-market\/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=are-nfts-back-ethereum-pfp-collections-rally-flat-market\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin and Ethereum have moved mostly sideways over the past seven days, but several Ethereum NFT collections\u2014particularly the blue-chip PFP (Profile Picture) group\u2014have recorded clear gains. CryptoPunks, Bored Ape Yacht Club, and Pudgy Penguins all rose between 3% and nearly 5% over the week, while 30-day data shows an even stronger recovery momentum in some [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":23937,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[9],"tags":[21],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/nftevening.com\/wp-content\/uploads\/2026\/05\/0405.jpg","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/23936"}],"collection":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=23936"}],"version-history":[{"count":0,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/23936\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/23937"}],"wp:attachment":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=23936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=23936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=23936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}