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- A CryptoPunk NFT became the 4th highest grossing token in the collection.
- Deepak Thapliyal purchased a Punk for over 23 Million USD in February 2022.
- Popular collections like Bored Apes Yacht Club (BAYC) are struggling in the market.
CryptoPunks Gaining a Lot of Steam Lately
It appears like bears are loving the crypto market. With no sign of bulls near the sector, crypto winter might last longer than expected. Despite such tight conditions, some investors are brave enough to walk bare feet on the ice cold crypto floor. Recently, an individual threw 4.44 Million USD for a CryptoPunks NFT, making it the 4th highest grossing token in the collection to this date.
CryptoPunk #2924 is one of the rare tokens in the collection with only 3% of them having a hoodie and 0.24% having the Ape type. The sales pushed the digital collectible’s price to 865.5 ETH according to OpenSea. At the time of writing, the collection had a total volume of 2.94 Billion USD with floor price reaching 90.27K USD according to DappRadar.
The collection saw its highest sale this year only, with CryptoPunk #5822 going for a whopping 8,000 Ethereum (worth 23.7 Million USD during that time). Deepak Thapliyal, Chain CEO, acquired the NFT. The collectible was one of the 9 Punks possessing the Alien trait.
Punks are gaining steam lately in contrast to other collections. BAYC’s volume was down by 86% in the past 24 hours. While the Punks enjoyed a 365% surge, thanks to CryptoPunk #2924. The collection saw a 64% increase in the number of traders too.
Yuga Labs, owners of the collection, released the IP rights for the users in August 2022. According to the terms, every holder can use the NFT in any way they want. They can use them in music videos, tv shows, movies and more. This initiative eliminated the myth that non-fungible tokens are nothing more than images on blockchain.
As of this publication, the non-fungible token sector had a total market cap of 2.3 Billion USD. Trade volume was down by 7.28% though the Punks tried to lift the spirits in the market.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
