September 24, 2023

CryptoPunks hits the news again following an excellent week for the non-fungible token (NFT) collection. The renowned NFT collection tops multiple Crypto Slam charts. CryptoPunks remained beyond the Bored Ape Yacht Club collection amid recouping markets.

CryptoPunks Ruling the NFT World?

The CryptoPunks NFT collection is back in the game and tops NFT charts as far as sales are concerned. The past seven days saw the collection’s sales volume surpassing $25.3 million, indicating a 558% upsurge. Meanwhile, the arch-rival BAYC scooped over $12.4 million during the timeframe.

Nevertheless, analytics platforms scrutinize the rampant NFT sales. Sentiment admitted a massive transaction surge from Punks OTC within the last 30 days. Meanwhile, CryptoPunk NFT, worth $140K (120 ETH), accounted for the highest transactions during this timeframe.

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NFT over-the-counter (OTC) trading has gained popularity within the NFT market. Buyers can use this option to acquire their favorite NFTs for no or fewer fees.

Besides that, NFTFi (or NFT Finance) protocols are attracting prospective buyers and holders. NFTFi provides other financial services, including lending, renting, and borrowing holdings, to allow increased participation within the NFT space.

Meanwhile, the CryptoPunks collection currently top weekly and daily NFT sales charts. Crypto Slam shows the daily chart recording a 391% sales increase, amounting to $7.11M. The latest CryptoPunks surge reflects the general NFT market growth over the past few weeks. The Q2 crypto carnage saw the NFT market struggling, with prices recording free-falls.

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What About the Punks?

What does the above narrative translate to from the CryptoPunks NFT collection? Though the impressive growth, the collection slumped behind the latest PlatypusNFT by Avalanche, which recorded more than $4.9 billion on its monthly chart.

On the other hand, CryptoPunks managed a $59M volume during the timeframe. Things will likely get interesting within the NFT markets, with new collections drawing massive audiences.

Also, the crypto market records improved movements, with large-cap assets hovering in green. The global cryptocurrency market capitalization gained 4.27% within the previous day to $971.48 billion. Also, Bitcoin climbed beyond the crucial $21K, changing hands at $21,321 during this publication. However, the market is yet to confirm steady and long-term uptrends.

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Editorial credit: mundissima / 1

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