CryptoPunks surpasses 200,000 USD, NFT resurgence!

The floor price of the CryptoPunks NFT collection has just surpassed 200,000 USD for the first time in over a year, marking an impressive revival of the NFT market. The floor price of CryptoPunks has increased by 163% since August 2024, from 20.45 ETH to 53.98 $ETH .

The boost from large transactions and rising ETH prices

This price increase is driven by several factors:

Large 'floor-sweeping' transactions: An anonymous user bought 45 CryptoPunks at once, drawing attention and increasing the liquidity of the collection.

Rising Ethereum prices: #CryptoPunks is priced in ETH, so when ETH prices rise, the USD value of the collection also increases.

Active trading activity: The NFT market on Ethereum has just experienced its busiest trading days since February, with trading volume reaching 26 million USD. Notably, more than half of this volume came from CryptoPunks transactions.

The revival of CryptoPunks, along with large investors continuing to buy in, indicates that interest in premium NFTs is returning. Although the market #NFT​ has not fully recovered to its previous peak, these positive signals, combined with the strong performance of Ethereum, are painting an optimistic picture for the future of top NFT collections.