Contrary to popular belief, the flooring rates for the top collections have actually been increasing in recent weeks. The CryptoPunk projects floor price has increased more than 65% over the previous 30 days. Bored Ape Yacht Club, cryptos most popular NFT-related project, saw a 21% rise in its typical floor rates, while Mutant Ape Yacht Club saw a 25% boost in its flooring rate.
This record sale likewise shows that, in spite of the lower trading volumes and the average flooring rate throughout the NFT market plunging to new annual lows each year, NFT projects with the highest appeal are still being extremely searched for.
According to NFTGo information, the NFT market capitalization has suffered a 32% drop in the previous 3 months and lost over 70% of its trading volume.
Punk 4464 was purchased for 2,500 Ethereum ($ 2,615,224.91 US) by 0x561786. https://t.co/xqtkT3BeER #cryptopunks #ethereum pic.twitter.com/iCAAG4LKHg
— CryptoPunks Bot (@cryptopunksbot), July 12, 2022
Despite the decline in trading volume on the broader non-fungible token market (NFT), a single CryptoPunk cost a shocking 2,500 Ethereum, which is just over $2.6 Million.
The sale of CryptoPunk 4464, one of 24 ape-themed CryptoPunks, was worth $2.6 million. It is the biggest NFT deal in the markets last 30 days.
DappRadar reports that the number of OpenSea users, the largest NFT market volume-wise, has dropped by practically 9 percent in the last month. The platforms general NFT trading volume had actually dropped to approximately 65% to $500,000,000 by the end of the last month.
If you consider ether (ETH denominated pricing), the sale is the 4th most important in the collection. NFTs have actually suffered a lot from the recent downward pressures on the rate of Ethereum. Its the 15th greatest CryptoPunk sale in USD terms.
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NFTs have actually suffered a lot from the current downward pressures on the price of Ethereum. The CryptoPunk jobs flooring rate has increased more than 65% over the past 30 days. Bored Ape Yacht Club, cryptos most popular NFT-related project, saw a 21% rise in its average flooring costs, while Mutant Ape Yacht Club saw a 25% increase in its floor cost.
Although Ether prices are down, total volume has actually stayed steady at about 5,000 buyers considering that March. This recommends that NFTs have a long-lasting market appeal on the Ethereum network.