CryptoPunks Goes Crazy Again, Trading Volume Increases Over 1,200% In One Week! - Kakiforex.com - Financial Market Media No. 1 in the World CryptoPunks Goes Crazy Again, Trading Volume Increases Over 1,200% In One Week! CryptoPunks Goes Crazy Again, Trading Volume Increases Over 1,200% In One Week!
InstaForex

August 3, 2021

CryptoPunks Goes Crazy Again, Trading Volume Increases Over 1,200% In One Week!

 The CryptoPunks phenomenon erupted again when it saw a high jump of over 1,200% in record trading volume.


CryptoPunks is a collection of non-fungible tokens (NFT) in 8-bit 2D pixel format that gained popularity in early 2021.


According to DappRadar, CryptoPunks trading record hit $ 120 million with a 1,270% jump in just over a week.


The interesting thing about the CryptoPunk collection, one of the first NFT projects at Ethereum (ETH) is that it was inspired by the London punk movement in 1970. Each CryptoPunk is very unique, having different features from each other.



To date, the total CryptoPunks sales recorded by CryptoPunk creator, Larva Labs are worth 264,740 ETH (about $ 684.93 million).


The craze over CryptoPunks started on Friday when it was discovered there was a whale trying to buy the digital art and had spent around 24 ETH to 29 ETH to get one character. Larva Labs revealed the whale now has 104 CryptoPunks characters.


On the same day, CryptoPunk character#5217 sold for 2,250 ETH (about $ 5.45 million) and CryptoPunk#2140 sold for 1,600 ETH (about $ 3.76 million). Both recorded the third and fourth largest sales in CryptoPunks history


Meanwhile, the overall trading record of the NFT market reached $ 1.5 billion, up 2,627% year -on -year for the first quarter. Although the momentum of the NFT sector is slightly flattened by May, there is no doubt that this market has managed to see total transactions reach $ 2.5 billion for the first half of 2021.