CryptoPunks surged by 280% after the latest massive $4.4 Million sale. Recently this past week, CryptoPunks NFTs have been seeing its volume pump by quite a bit after exciting news broke of one of the collections biggest purchases yet.
According to data from OpenSea, the CryptoPunks collection saw a trading volume surge of up to 280% within the past 7 days, trading 7,750 ETH worth of NFTs across 55 sales.
Along with that, CryptoPunks’ floor price has also seen a small increase, going from a floor price of 63.9 ETH last week to 67.4 ETH yesterday before dropping 64.9 ETH again today.
Recent Massive Sale
The reason for this sudden increase in both trading volume and floor price for the collection may be due to the recent reveal of one of the biggest sales in the collection to date.
The recent sale of CryptoPunk #2924 had the entire community buzzing yesterday. The anonymous buyer had purchased the rare Ape Punk for a price of 3,300 ETH, or around $4.4 Million, making this the fourth biggest purchase in CryptoPunks history.
The wallet that bought the Hoodie Ape Cryptopunk today was last active over 5 years ago (May 2017).
— ricefarmer.eth 🍚 (@RiceFarmerNFT) September 28, 2022
This massive sale came to a shock to many in the community, especially considering the fact that the crypto and NFT space are technically still going through a bear market.
It’s exactly for this reason however, that the sale has caused CryptoPunks trading volume to rise as CryptoPunk investors have become more bullish and gained confidence for the collection.
Fight Against BAYC
For the longest time, CryptoPunks and Bored Ape Yacht Club (BAYC) have fought and continuously flipped one another for the top spot of being the number one NFT collection in the world.
At the end of August, the two collections were neck and neck at earning the title of the top NFT collection in terms of floor price, however since then, Bored Ape has considerably surpassed CryptoPunk, as BAYC now trades at a floor price of 78 ETH.
This recent $4.4 million CryptoPunks sale however, has since brought back hope for the CryptoPunks community that their collection may just surpass BAYC once again in the near future.