$16M CryptoPunk Sale Spotlights NFT Market’s Explosive Development

Punk #3100 made history yesterday by being snatched up for around $16 million (4,500 ETH), marking the second-largest purchase in the CryptoPunk NFT series. 

Such a sale, facilitated by OpenSea, outdid a previous offer of $14.5 million (4,250 ETH) on March 1. The collectible’s allure includes standing out as one of the nine ‘Alien Punks’, distinguished by its blue skin.

Highlighting the high demand for these otherworldly PFP characters, Alien CryptoPunks are coveted for their rarity and unique look, with two others currently available for $17.8 million and $19.6 million.

CryptoPunks Lead the Charge

Amidst a buoyant revival in the NFT sector, characterized by a surge in buyer engagement and a recent 25% increase in daily market volume, CryptoPunks stand at the epicenter. 

According to NFT Price Floor, CryptoPunks currently has a total 24-hour trading volume of approximately $18.73 million (4,970.2 ETH) and a market cap of roughly $2.05 billion (544,000 ETH), impressively positioning the NFT brand as today’s most celebrated NFT collection.

Still, the highest record for one of these Pixelated Punks is held by CryptoPunk #5822, which Chain CEO Deepak Thapliyal bought for around $23.7 million (8,000 ETH) at the time, back in February 2022.

Must read: The 10 Most Expensive NFT collectibles Ever Sold

The recent price tag of CryptoPunk #3100, coupled with the renewed enthusiasm for NFTs and cryptocurrencies, signals a transformative phase in the digital asset space. 

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