A CryptoPunk collectible recently sold for 205 Ethereum (ETH) worth a whopping $507,617, amid a noticeable increase in global non-fungible token (NFT) sales, with sales volume increasing by 17 in the past 24 hours .72% has increased.
Following the surge in NFT sales volume, the market has recorded $38.28 million in sales in the past 24 hours. Interestingly enough, the CryptoPunk collectible represents the largest single NFT sale in the past 24 hours and the past month.
NFT Sale – January 22 | Source: CryptoSlam
The sale, involving CryptoPunk #6940, took place yesterday at 2:11 PM (UTC), according to Etherscan data. Historical transaction data confirms that the price of the collectible has risen impressively over the past six years. Notably, the NFT was minted in December 2017 for $128.
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The previous sale involving the collectible was worth 215 ETH in April 2023. However, this sale was of less value due to Ethereum’s then lower price, which was $397,924. Atscrypto, a notable NFT collector, had owned the collectible for eight months before the recent sale.
Despite the huge transaction, the CryptoPunks collection has registered a 22% drop in volume over the past 24 hours, to $3.17 million. However, global NFT sales volume has only seen a significant increase as the total number of transactions has risen to 325,804.
The latest purchase comes more than two months after another CryptoPunk collection made headlines for recording an impressive sale worth 600 ETH (valued at $1.14 million at the time). This sale involved CryptoPunk #7458 and preceded a major uptick in NFT sales volume.
The recent development signals a resurgence of interest in digital collectibles, despite the market-wide downturn in recent weeks. Institutional interest in NFTs has also increased, with CoinGecko recently confirming that 21 of the world’s 50 largest fashion brands have NFT projects.
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