CryptoPunks have seen a resurgence once again after this weekend's NFT whales buying frenzy. Prices have been all over the place as of late.
The sudden rise in popularity caused the average price for a CryptoPunk to jump 53 percent from $87,800 USD up to $135,000 USD over the week. This was between July 24 and August 1, 2021. The CryptoPunk pieces were purchased on July 29, and the buying spree continued into the weekend, with Sunday's sales reaching $22 million USD.
Entrepreneur, Gary Vaynerchuk caused a frenzy by buying a CryptoPunk at a price of $3.7million USD (1,600 Ethereum). An anonymous investor spent $7 million USD (2700 ETH), on 88 CryptoPunks that day. The investor is believed to have purchased more than 100 high-end digital collectibles. Entrepreneur's, Athletes and celebrities all are cashing in on NFT's.
CryptoPunks continue to show price increase since they've been launched. The pixelated characters seem to be a fan favourite. The original but lack of detail design are a hit. CryptoPunks prices nowadays are going for what a Picasso or Warhol would nowadays.
credit: OpenSea
The NFT market has exploded throughout last year but has since subdued over time. Despite this, CryptoPunks has still managed to be the most valuable NFT project in the world with weekly volumes exceeding $60 million USD. These CruptoPunks saw a dramatic increase in sales and their daily trading volume has increased by 1,342 per cent. OpenSea's data reports that at least half of the 10 most expensive CryptoPunks have been in trading circulation this past weekend.
