- A CryptoPunk whale swept 45 NFTs in one go, pushing the floor price up to $175,000.
- Ethereum NFT trading volume jumped to $75M, as ETH rallied nearly 50% in July.
- The move signals renewed interest in legacy NFT assets like CryptoPunks amid a broader market recovery.
Something wild just went down in NFT land—and it’s got everyone talking about CryptoPunks again. Over the weekend, a mysterious whale made a massive sweep, scooping up 45 CryptoPunk NFTs in a matter of hours. That’s not pocket change either—we’re talking millions of dollars in JPEGs.
In total, 54 punks moved in a short window, with 45 landing in a single wallet. Yep, one person (or group?) just cornered a serious chunk of the market. After the sweep, the floor price shot up to about $175,000. That’s the kind of move that flips market sentiment—fast.
It’s not just hype, though. The floor didn’t spike for no reason. When big collectors start moving in like this, it usually signals deeper conviction. Call it FOMO or call it accumulation—either way, it’s bold.
Ethereum’s Price Surge Breathes Life Into NFT Market
This CryptoPunks whale action didn’t happen in a vacuum. Ethereum’s had a huge month, jumping nearly 50% since early July, going from around $2,525 to $3,730. That rally’s brought some serious energy back to NFTs—and Punks, being the OGs, are once again stealing the spotlight.
Ethereum NFT volume hit $75 million this past week. That’s more than 50% of all trading volume across the top chains. And that’s a huge leap from just two weeks ago, when ETH NFTs were crawling along at $18.3 million.
Bitcoin NFTs also saw a bounce, climbing to $25.6M, but it’s clear who’s still king of the collectible hill. CryptoPunks didn’t just survive the bear—they’re still a power move.
A Signal, or a Setup?
So what’s next? Is this just a flashy buy or the start of a bigger trend?
There’s chatter that whales are rotating back into legacy NFTs—blue chips like Punks that have stood the test of time. Yuga Labs, which picked up CryptoPunks a while ago, recently sold off several other projects (Moonbirds, Meebits) to refocus on its Otherside metaverse. But they held onto Punks. That says something.
Meanwhile, new players are entering the scene. Pudgy Penguins, another ETH-native collection, just got ETF attention through Cboe BZX and Canary Capital. The NFT market’s growing again—slowly, maybe—but with moves like this, it’s hard to ignore.
CryptoPunks are often the first to lead a charge. If that $175K floor holds—or climbs—it might be game on.
