The non-fungible token (NFT) industry has predominantly experienced a decline in trading activity since the beginning of the year, but the market appears to be currently undergoing a noteworthy and positive transformation. Based on on-chain data, one of the major collections that seems to be leading this recent surge is the CryptoPunk non-fungible tokens.
CryptoPunks, a series of 10,000 unique pixel art characters on the Ethereum blockchain, gained widespread acclaim and fervent collector attention for a few years after its inception. However, interest in the collection has been relatively low in the past few months, coinciding with the widespread downturn in the NFT market.
Trading Volume Surge From $200,000 To $3,000,000 In One Week
In recent weeks, the CryptoPunks collection has been garnering the attention of investors and collectors. According to data from blockchain analytics firm IntoTheBlock, there has been a substantial surge in the trading volume of the Cryptopunks NFT collection, escalating from $200,000 to well over $3 million in the previous week.
The Cryptopunks NFT collection’s trading volume has increased significantly in the past week, from $200k to over $3M!
🔗https://t.co/S0YGJVdlD7 pic.twitter.com/ahBV646GKM—…
