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CryptoPunks Volume Skyrockets 700% Thanks to Christie’s

Posted by
Robert Hoogendoorn

$12,000,000 in volume as auction intensifies punk hype

The announcement of auction house Christie’s putting 9 CryptoPunks under the hammer next month, has given the trading volume of CryptoPunks a 704% increase to more than $12.14 million in the past 24 hours. The most expensive wave punk during this sales wave is zombie punk 6704 for $759,560 according to DappRadar’s NFT sales tracker.

In the past 24 hours a total of 221 sales took place. That’s an increase of 539% compared to the day before. These sales were done by 228 different buyers and sellers, transacting a total volume of more than $12.14 million.

Larva Labs, the company that launched CryptoPunks as digital collectibles in June 2017, has provided nine CryptoPunks to the auction house. Christie’s will auction the nine CryptoPunks on May 13th during their 21st Century Evening Sale. The auction will include punks 2, 532, 58, 30, 635, 602, 768, 603 and 757. Based on current market pricing, the bare minimum value should be more than $5.9 million.

CryptoPunks are possible to rock paintings of collectibles on the blockchain. They are considered the first digital collectibles with true scarcity. This gives them a lot of value for collectors and investors alike. With the NFT market currently seeing a hype that attracts not only auction houses like Christie’s and Sotheby’s, but also celebrities like The Weeknd, Paris Hilton and the entire NBA.

In Q1 2021 NFT trading was responsible for $1.5 billion in volume. According to the Dapp Industry Report by DappRadar the digital collectibles app NBA Top Shot was market leader with $500 million in volume. NFT’s are more than just digital images, as they can also be game items, access tickets, memberships and so on.

How much is your NFT collection worth? Find out with the DappRadar Portfolio Tracker!

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