NFT Sales Surge 440% to $72M After $56M Punk NFT Sale

The global non-fungible token market has experienced a rebound, showcasing positive growth after enduring over three months of drastic decline, which resulted in a trading sales volume decrease of more than 48% in September, marking the lowest level since 2021. Today, the NFT market has surged by over 440% to reach $72 million in trading sales volume, following the sale of a rare punk for over $56 million just hours ago.

Punk 1563 purchased for 24,000 ETH ($56,292,000.00 USD) by 0x9cbb3d from 0xba1349. https://t.co/FqDvGZvg05 #cryptopunks #ethereum pic.twitter.com/hWimHKYb0x

— CryptoPunks Bot (@cryptopunksbot) October 3, 2024

Daily NFT Trading Sales Volume Increases by +440%

According to data from CryptoSlam.io, a comprehensive data aggregator for on-chain crypto markets and NFTs, the non-fungible token sector has seen a remarkable upsurge in trading sales volume, overcoming constraints that had kept NFT sales below $15 million. Today, the NFT market has reported a sales total of $72 million, reflecting a 440% increase from the previous day.

In this timeframe, Ethereum-based non-fungible token collections, known for hosting the majority of top-tier NFT collections, have become the most prominent in terms of sales. Over the last 24 hours, Ethereum’s NFT collections have achieved a trading sales volume of $60 million, significantly surpassing other blockchain networks such as Solana and Bitcoin.

Mythos Chain, a specialized EVM chain aimed at enabling secure and efficient transactions across the ecosystem, offering high scalability, reduced transaction costs, and smooth interoperability for games and marketplaces, ranks as the second most traded blockchain network in the NFT market today. In the past 24 hours, NFTs based on Mythos Chain noted a trading sales volume of $3.7 million, outpacing competitors like Solana, Bitcoin, and Polygon.

Punks #1563 Sold for Over $56 Million

Data from the cryptocurrency market shows that Punks #1563 was sold for over $56 million thirteen hours ago, highlighting that crypto investors are still eager to invest substantial sums in this rapidly evolving NFT market. Punks #1563 belongs to the famous 10,000 CryptoPunks NFT collection initiated by Larva Labs, now under the management of Bored Ape NFT creator Yuga Labs.

OMEGA PUNK 1563 pic.twitter.com/UqOOkRqbrY

— beeple (@beeple) October 4, 2024

In recent months, CryptoPunks have experienced a surge in sales, with several rare tiers trading for remarkable figures. Notable recent sales include Punk #6915, which fetched over $1.4 million last month before being resold for over $1.5 million a couple of weeks ago, Punk #9368, sold for $1.2 million last week, and Punk #2383, which also achieved over $1.5 million last month.

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