The Lead Over BAYC Collection
However, after a successful week for the NFT collection, CryptoPunks is making headlines this time. On Crypto Slam, the renowned NFT collection is at the top of various rankings. As markets rebound, CryptoPunks maintains their lead over the BAYC collection in the current rankings.
The CryptoPunks collection is back and comfortably occupying the top spot on the NFT sales ranking. The collection’s sales volume during the last week has surpassed $25.3 million, an increase of 558 percent. The arch-rival BAYC amassed slightly over $12.4 million in the same period. Analytics platforms are keenly monitoring the brisk purchases, nevertheless. Santiment acknowledged a significant rise in Punks OTC transactions over the previous 30 days. The highest transaction at this time was a 120 ETH ($140k) CryptoPunks NFT.
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The Dominating Sales Volume
Recently, the NFT space has seen a rise in popularity for NFT OTC (over-the-counter) trading. It enables customers to purchase their preferred NFTs at little or no cost. In addition, holders and potential purchasers are becoming interested in NFT Finance (or NFTFi) protocols. To encourage greater engagement in the NFT market, NFTFi also provides other services, including lending, borrowing, and renting holdings.
Regarding NFT sales volume, CryptoPunks is dominating daily and weekly charts. According to Crypto Slam, sales on the daily chart have increased by 391 percent to $7.11 million. The current increase in CryptoPunks indicates last week’s general rise of the NFT market. The second quarter’s crypto devastation has been challenging for the NFT market as prices have fallen precipitously.
What does this entail going forward for the CryptoPunks collection? Despite recent growth, the collection has lagged behind Avalanche’s most current PlatypusNFT, which has a 30-day total of almost $4.9 billion. CryptoPunks has only been able to generate a meager $59 million volume. With new collections drawing sizable audiences, the NFT market will get intriguing.
Source: https://www.thecoinrepublic.com/2022/07/17/cryptopunks-surges-558-skyrocketing-in-the-weekly-charts/