Pudgy Penguins Solana Token and Ethereum NFTs Rising Ahead of Abstract Network Launch – BitRss

The PENGU token and Pudgy Penguin NFTs are both surging in value as anticipation builds for the upcoming mainnet launch of Abstract, an Ethereum layer-2 network built by the parent company behind both assets, Igloo Inc. 

PENGU leads the way, rising more than 6.5% in the last 24 hours and 45% in the last week to a price of $0.045 and a $2.8 billion market cap. The price is the Solana token’s highest since the early hours of claiming for PENGU began on December 17. 

The token’s price rise coincides with a slowing of PENGU claims and an increase in total holders—metrics that potentially point to a decrease in sell pressure of the token.

Estimates now suggest that more than 61% of the PENGU available in the initial airdrop has been claimed,…