NFTs News

CryptoPunks Trading Volume Surge Over 200% In The Last 24 Hours

CryptoPunks is achieving outstanding performance even though the market is not very promising.

CryptoPunks Trading Volume Surge Over 200% In The Last 24 Hours 4

According to NFTGo data, CryptoPunks 24 hours trading volume is up 214% to $1,326,863. The floor price is up 0.08% in 24 hours and is currently at 63.95 ETH.

Source: NFTGo

When looking through the lens of Ether-denominated pricing, the recent downward pressure on the price of ETH means that the dollar value of NFTs has suffered significantly over time. However, CryptoPunks’ remarkable performance is still remarkable.

However, given the bearish sentiment surrounding the NFT, the floor prices of the top collectibles have dropped relatively, with the floor price of the CryptoPunks project dropping by more than 5% in the past 30 days.

Bored Ape Yacht Club (BAYC), the cryptocurrency’s most popular NFT project, has seen the average floor price drop by more than 12%.

CryptoPunks Trading Volume Surge Over 200% In The Last 24 Hours 5

Over the past three months, the NFT market cap has dropped 4.5% while losing more than 65% of trading volume, according to data from NFTGo.

While lower Ether prices have also brought the overall volume down, the number of first-time NFT buyers has remained relatively flat at around 3,285 users since June of this year – indicating that the market’s appeal with NFT on the Ethereum network has been maintained.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.