American billionaire Adam Weitsman bought 117 Pudgy Penguins NFTs over the weekend of October 10-11, 2026. The entrepreneur, who runs a scrap metal recycling business, announced the move on his personal X account, describing the buying spree as a direct show of support for the penguin holding community during a difficult period.
The statistical anomaly was immediately visible on sales charts, triggering a sharp spike that contrasted with sluggishness in the broader NFT market.
125% Surge Amid a Sluggish Market
CryptoSlam data as of October 10 shows Pudgy Penguins sales volume jumped 125.66% over the week, generating roughly $1.50 million in seven days. That surge propelled the project - launched in July 2021 with a supply of 8,888 assets on the Ethereum network - to third place in weekly top-selling NFTs, right behind Courtyard and CryptoPunks.
Network activity surrounding the penguin collection moved in tandem. The number of transactions rose 151.28% to 196 transactions. At the same time, unique buyers increased by 54.10% to 94 addresses, while sellers climbed 101.64% to 123 addresses.
The scene at Pudgy Penguins stands in sharp contrast to conditions across the broader NFT market. Cross-chain data reveals a deep slump: total buyers plunged 85.33% to 30,332 addresses, while total transactions dipped 6.92% to 778,055 transactions.
Second Collection After Thousands of Yuga Labs Assets
For Weitsman, sweeping hundreds of digital assets at once is nothing new. In August 2025, the entrepreneur purchased more than 5,000 NFTs from the Yuga Labs ecosystem, spanning Otherdeeds, Mega Kodas, and Weapon Kodas.
Now his focus has shifted to Pudgy Penguins, offering emotional encouragement to token holders. In his post on X, Weitsman shared his motivation: “This weekend I wanted to support one of my favorite collections during a difficult time.” He also reinforced community optimism with a closing remark: “The Huddle will stay strong.”
Community Support Without an Exit Plan
Despite announcing the massive purchase, Weitsman remained tight-lipped regarding the financial details behind the transactions. The total amount spent to acquire the 117 NFTs was not disclosed publicly. The entrepreneur also made no mention of target selling prices or his investment horizon for the project.
For market participants, Weitsman’s move illustrates how temporary liquidity can be swayed by a single major buyer, yet ecosystem sustainability still hinges on organic market demand. Buying to support a community is a moral commitment; holding assets without a clear exit plan is a capital gamble.
Reported by crypto.news.
Also read: What Is an NFT and How Does It Work?
Also read: NFT Buyers Plunge 85% in a Week - But Transaction Volume Holds at $39.8 Million
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
