Popular non-fungible token (NFT) collection CryptoPunks has seen a significant increase in sales volume over the past month despite the downturn in the broader NFT market.
Over the past 30 days, CryptoPunks has recorded over USD 63m in sales volume, up by around 112%, according to NFT data aggregator DappRadar. The collection’s floor price and market capitalization have also seen an uptick, rising by around 192% and 96%, respectively.
The renewed interest in CryptoPunks comes as the collection managed to attract attention with major sales. Last week, an NFT of this category sold for ETH 2,500, worth USD 3.78m at current rates, while another one sold for ETH 2,691 (USD 4m), marking the largest NFT sale of the last 30 days across the entire market.
Punk 4464 bought for 2,500 ETH ($2,615,224.91 USD) by 0x561786 from 0x33eaae. https://t.co/xqtkT3BeER #cryptopunks #ethereum pic.twitter.com/iCAAG4LKHg
— CryptoPunks Bot (@cryptopunksbot) July 12, 2022
Meanwhile, other blue-chip NFT collections have not been as lucky as CryptoPunks.
Yuga Labs‘ Bored Ape Yacht Club (BAYC), Otherdeed, and Mutant Ape Yacht Club (MAYC) have seen significant drops in sales volumes over the past month, of around 33%, 37%, and 36%, respectively, according to DappRadar. Notably, the floor price of all of these collections has seen a boost, increasing by around 81%, 111%, and 74%, respectively.
Data by NonFungible shows that the overall NFT sales volume has resumed its downturn over the past month, with the number of sales dropping by around 63% to 9,000 and sales volume in USD plunging by more than 87%. Primary and secondary sales, unique buyers and sellers, active market wallets – they are all down between 40% and 88%.
The current NFT plunge has also adversely affected major marketplaces. As reported, OpenSea‘s daily trading volume had dropped to around USD 837,000 on June 25, plunging to below USD 1m in more than a year. The major marketplace’s trading volume has slightly increased since, reaching USD 14.5m over the past 24 hours.
Notably, since the bulk majority of NFTs are priced in ETH, the increasing ether prices can provide a boost to the overall NFT trading volume. At 8:23 UTC on Tuesday morning, ETH is trading at USD 1,515, up 2.2% in a day and up 38% in a week – standing as the best weekly performer among the top 10 coins by market capitalization.
Source: Cryptonews
