Yeliz Akmaca 
Nasdaq-listed BTCS Inc. took a strategic step during the NFT market recovery. The company added three Pudgy Penguins NFTs to its treasury, contributing to PENGU’s price rise. This shift shows BTCS moving from an ETH-only accumulation policy to a new strategy including blue-chip NFTs.
BTCS recently executed its largest single ETH purchase in history. The 14,240 ETH acquisition increased total reserves above 70,000 ETH. Adding Pudgy Penguins brought high cultural value NFTs to the strong ETH base. Known for high floor prices and a supportive community, Pudgy Penguins has remained a top-tier collection in the NFT space since 2021.
BTCS’s NFT Strategy Boosts Market Momentum
This purchase reflects growing interest among companies including NFTs in corporate reserve strategies. Some experts compare this approach to MicroStrategy’s Bitcoin reserve model. Yuga Labs CEO Garga suggests NFT treasury companies could become a mainstream trend. NFTs provide cultural influence, strengthening brand connection and investor appeal.
However, NFT price volatility and limited historical data carry risk. Nevertheless, the NFT market saw a 94% volume increase in July. Trading volume reached $6.6 billion. This recovery renewed interest in high-end collections.
PENGU Shows Strong Technical Performance
Following the news, PENGU rose 3.34%, outperforming the overall market’s 2.31% gain. Pudgy Penguins’ NFT floor price increased 7% weekly. The company also signed a licensing deal with China-based Suplay Inc. and gained brand space on a Williams Racing F1 car via Kraken, reaching over 85 million viewers.
Meanwhile, PENGU trading volume rose 30% to $838 million. The token traded above key moving averages, showing strong technical momentum. Analysts predict that with the Robinhood listing, PENGU could approach DOGE price levels. August NFT market capitalization data will determine whether this momentum is sustainable.
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