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by: xpoolPosted on: August 18, 2025

NFT Market Cap Plummets as Ethereum Price Drops: Pudgy Penguins Surge

The NFT market experienced a significant downturn last week, with its total market capitalization dropping by over $1.2 billion in less than a week. This decline follows the retreat of Ethereum (ETH) prices from recent highs. Cryptocurrency analysts attribute this drop to ETH’s price decrease and the corresponding impact on many popular NFT collections.

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