Crypto Punks Regains Strength as NFT Sales Increase

The NFT collection Crypto Punks has witnessed a spike during the last seven days. The trading volume of the NFT collection has elevated from up to $200,000 to a huge $3 million, further strengthening its position within the whole NFT market. The boost in the trading volume of Crypto Punks signifies that it is healthy. On the other hand, the decreased trading volumes indicate a slump in the community members’ interest.

Crypto Punks Witness a Renewal of Interest as the NFT Sales Rise Again

In addition to this, the low-slung trading volume also points toward a plunge in liquidity. Contrarily, rising trading volumes additionally suggest a resilient asset demand and spiking liquidity of a collection. Keeping that in view, the increase in the volume of the Crypto Punks collection pointed out that it was seeing an increase in demand.

Also Read: What are NFTs? All You Need To Know

Following that, the ownership rotation touched a spot that it had not reached in several months. Apart from that, the elevating volume benefited the NFT collection to a great extent. With this, Crypto Punks has seen the highest sales on the blockchain of Ethereum (ETH). As per CryptoSlam, the sales of Crypto Punks in the recent 7 days reached the figure of up to $20.26 million.

The NFT Collection Spikes by up to 924% in 7 Days

The respective value denoted a 924% spike in comparison with the recent 7 days. Nonetheless, the top spot among the earners on Ethereum does not make it the top player among all the NFTs. The analysis of the statistics of the overall market activity provided some details in this respect.

As per it, $SATS BRC-20 NFTs (an NFT collection that operates through the Bitcoin Ordinals network) saw peak sales. At present, the sales for this collection account for more than $32 million. The respective increase determines a renewal of interest concerning Bitcoin Ordinals following a downturn.