CryptoPunks is in the news because the NFT collection did well last week. The well-known NFT collection is at the top of many rankings on Crypto Slam. Even though the markets are getting better, CryptoPunks is still ranked higher than the BAYC collection.
The CryptoPunks collection is back, and it’s easy to see why it’s at the top of the NFT sales list. In the last week, the collection has made more than $25,3 million in sales, which is a 558 percent increase. In the same time period, the archrival BAYC made a little more than $12.4 million. Still, analytics platforms are keeping a close eye on the fast purchases. Santiment said that the number of Punks OTC transactions had gone up a lot in the last 30 days. At this time, a CryptoPunks NFT for 120 ETH ($140k) was the largest transaction.
NFT OTC (over-the-counter) trading has become more popular recently in the NFT space. It lets customers buy their favorite NFTs for little or no money. NFT Finance (or NFTFi) protocols are also becoming more interesting to holders and possible buyers. NFTFi also offers other services, such as lending, borrowing, and renting holdings, to get more people involved in the NFT market.
In terms of the number of NFTs sold, CryptoPunks is at the top of both daily and weekly charts. Crypto Slam says that sales on the daily chart have gone up by 391% to $7.11 million. The rise in CryptoPunks shows that the NFT market as a whole went up last week. The crypto crash of the second quarter has been hard on the NFT market because prices have dropped so quickly.
What does this mean for the CryptoPunks collection from here on out? Even though the collection has grown in recent months, it is still behind Avalanche’s latest PlatypusNFT, which has a 30-day total of almost $4.9 billion. CryptoPunks has only been able to make a small amount of money, about $59 million. The NFT market will become more interesting as new collections bring in big crowds.