In brief:
- Sales of CryptoPunk non-fungible tokens (NFTs) are leaping to new record highs.
- Market went crazy, as Visa entered the race.
CryptoPunk sets leaping new record high sales of NFTs. Pursuing the revelation that Visa purchased CryptoPunk earlier today at 49.5 ETH. About 90 NFTs from the collection were sold in a single hour, according to data from CryptoSlam. These deals have a total value of roughly $20 million.
Today’s market action is consistent with CryptoPunks’ amazing upward trajectory, which has been fueled by a broader NFT market bubble in recent weeks. With almost $69 million exchanged since the start of the day, today has already shattered the record for the most transactions in a single day for CryptoPunks. The current rolling 24-hour mark is above $71 million, following about $8.3 million in CryptoPunk sales during the day on Sunday.
CryptoPunk sets New Record:
According to data from CryptoSlam, more than 260 CryptoPunks NFTs have been sold so far today, up from just 380 pieces sold today. Most of the sales were in the $180,000 to $250,000 range; however, one went for $917,000. $101,471,015.58 USD of sales took place on Monday worth 30,447 ETH. Today’s average sale price is above $267,028.99 USD (80.1262 ETH), compared to yesterday’s figure of about $214,000 worth of ETH.
With over $348 million in trade volume so far, August 2021 has been the greatest month for CryptoPunks sales to date. July had previously set the record with $135 million in transaction volume, marking the first time the collection had surpassed the $100 million barrier. According to CryptoSlam’s research, CryptoPunks have generated more than $815 million in trade volume to date.
The cheapest CryptoPunk NFT advertised right now is worth above 68 ETH according to Larva Labs.
On Sunday, more than a dozen CryptoPunks were sold for less than $170,000 in ETH each. According to CryptoSlam.
On August 5, the CryptoPunks floor—the price of the cheapest-available NFT in the collection—passed $100,000 for the first time, and only a few days later, it topped $150,000.
Also read: Visa Purchased the CryptoPunk #7610 NFT for 49.50 ETH
The NFT Market
In the meantime, the whole NFT market has risen in the last month or so. OpenSea, the leading secondary marketplace, has processed over $1.5 billion in Ethereum trade activity so far in August. It achieved this from just over $325 million in July, according to Dune Analytics.
An NFT serves as a deed of ownership for a valuable digital asset like images, video clips, video game, etc.
