CryptoPunks tops weekly charts as it surges by 558% amid a recouping NFT market
CryptoPunks is in the news again, however, this time after the NFT collection has had a brilliant week. The famed NFT collection is topping several charts on Crypto Slam. CryptoPunks continues to tread above the BAYC collection in the current rankings as we recovery in markets.
Punks is the word!
The CryptoPunks collection is back again and continues to sit comfortably at the top of the NFT sales chart. Over the past week, the collection has reached more than $25.3 million in sales volume, post witnessing a 558% surge. At the same time, the arch enemy BAYC accumulated just above $12.4 million.
However, the rampant sales are being closely looked over by analytics platforms. Santiment confirmed a huge increase in transactions from “Punks OTC” in the past 30 days. The largest transaction during this period was for a CryptoPunks NFT worth 120 ETH (or $140k).
NFT OTC (over-the-counter) trading has also been gaining popularity in the NFT space recently. It allows buyers to acquire their selected NFTs for little or no fees. Other than this, NFT Finance (or NFTFi) protocols are also becoming attractive to holders and prospective buyers. NFTFi offers other services such as lending, borrowing, and renting holdings to enable a wider participation in the NFT space.
Coming back to CryptoPunks, the collection is currently heading the daily and weekly NFT sales volume charts. As per Crypto Slam, the daily chart has seen a 391% increase in sales amounting to $7.11 million. The recent surge on CryptoPunks is reflective of the overall growth of the NFT market in recent weeks. The crypto carnage in the second quarter has been difficult for the NFT market with prices falling in a free-fall.
Where are the punks?
So what does it mean for the CryptoPunks collection now? Despite its growth in recent weeks, the collection has fallen behind to Avalanche’s latest PlatypusNFT which has totaled over $4.9 billion on the 30-day chart. Meanwhile, CryptoPunks has managed a volume of a meagre $59 million in the process. Things are about to get interesting in the NFT market now with new collections attracting large audiences.