Pudgy Penguins, an NFT collection, has overtaken Bored Ape Yacht Club (BAYC) in market capitalization, according to data from CoinGecko.

The floor price of Pudgy Penguins increased by 8.4% in the last day, reaching 22.1 ETH (US$86,922), with a weekly rise of 44.9%.

This increase elevated Pudgy Penguins’ market value to US$772.5 million, surpassing BAYC, which stands at US$755 million.

Pudgy Penguins’ growth is associated with an official token airdrop announcement. The project is set to launch its cryptocurrency, “Pengu,” on the Solana network this month.