Even as the rest of the NFT market saw a drop in trading volume, a single CryptoPunks NFT was purchased for more than $2.6 million in ETH, roughly equivalent to $2.6 million in today’s currency value.
The sale of the fourth-most valuable in terms of ETH pricing occurred when Punk’s collection was put up for auction.
One of the Most Expensive Purchases So Far
The price for CryptoPunk 4464 was $2.6 million, making it the most expensive NFT transaction for the past month. Overall, It is the 15th most valuable sale in US dollars.
Even though overall trading volume and average floor prices in the NFT market have decreased to yearly lows, the most popular NFT projects continue attracting many investors.
With such lower prices and discount opportunities, it seems buyers were eager for this moment in the market conditions to bag in on NFTs for better prices.
A Purchase You Rarely See in a Bear Market
On the other hand, the floor prices of the finest collections have been increasing recently. In fact, over the previous 30 days, the project’s floor price rose to 65%.
The most well-known NFT project in cryptocurrency, Bored Ape Yacht Club (BAYC), has seen a 21% price increase on average, while Mutant Ape Yacht Club, its sibling project, has increased by 25%.
However, data from NFTGo indicates that the market value of nonfungibles has decreased by 32% in the previous three months, with over 70% of its trading volume.
Meanwhile, the popular NFT marketplace OpenSea saw a drastic 9% decrease in unique user activity, according to DappRadar. The overall trade volume in OpenSea fell approximately 65% to $500 million in June 2022.