NFTs are increasing in value once more; this CryptoPunk NFT brought in $16 million

NFTs are increasing in value once more; this CryptoPunk NFT brought in $16 million

With relative ease, the non-fungible token market survived the last brief down market and is now set to restart its much-anticipated bull run in the next days or weeks. A clear indication of a potential NFT market boom is the sale of a CryptoPunk NFT #3100 for more than $16 million. Consider joining our Telegram channel while you're here to get FREE, trustworthy crypto alerts! CryptoPunks' NFT #3100 Sells for More Than $16 Million It was confirmed by the on-chain cryptocurrency market data aggregator CryptoSlam.io that just a few hours prior, CryptoPunk #3100 sold for $16,010,724. There was a huge CryptoPunk sale a few hours before another NFT collection, "Boogle #071," sold for $355,368. These two enormous sales imply that the eagerly anticipated NFT market bull run is about to begin.
The non-fungible CryptoPunks token collection was originally made available in 2017 by Larva Labs, a provider of digital assets. 10,000 NFT collections are housed on the Ethereum network and come in a limited edition. The capable folks at Yuga Labs, the same company that brought us Bored Ape, are currently in charge of the NFT collection.


Following the most recent big sale, the volume of trade sales for the CryptoPunks NFT collection has grown. $17 million has been traded on the CryptoPunks NFT collection in the last 24 hours, a 2,393% rise from the previous day. The CryptoPunks NFT collection and other NFT collections have helped to improve the Ethereum NFT trading sales volume by over 93% when compared to other blockchain networks. The trading sales volume for the Ethereum-based NFT collections in the last day was $42 million. Ethereum is now the most traded blockchain network in the NFT market, surpassing the well-known Bitcoin network.
Consider joining our Telegram channel while you're here to get FREE, trustworthy crypto alerts!
Is The NFT Bubble Already Forming?
The recent large sales of cryptopunk NFT suggest that the market is about to have a bull run. The NFT market last tested the bull market in late 2021 and early 2022. While some NFTs on the market at the time were selling for absurd amounts, the majority were reaching record highs.
Sales of NFT collectibles
The Merge was one such NFT collection that sold on the Nifty Gateway NFT marketplace for around $91.8 million. Pak, a computer artist, made it. The digital artist Beeple's Everyday — The First 5000 Days, which sold for more than $69 million, is another example. A notable transaction occurred when Beeple, a digital artist, sold another NFT collection, named Human One, at Christie's Auction House for $28.9 million. At the time, large sums of money were also auctioned for some CryptoPunks NFT collections, like CryptoPunk #3100 and #7523.