CryptoPunk NFT Prices Jump Up 50% in Seven Days

[RSRS]

The rush on CryptoPunk non-fungible tokens (NFTs) skyrocketed this week with daily trading volumes in the tens of millions of dollars.

While some have labeled NFTs as a passing fad, fans of CryptoPunks are not among them. Prices for the popular NFT collection produced by Larva Labs shot up 50% over the past week thanks to a number of huge sales, according to numbers from DappRadar. On top of the value increase, daily trading of the popular digital art was up 195.54% at the same time. It seems the CryptoPunk hype is not slowing, even after a week on fire. CryptoPunk sales are up 64% and volume 90% since yesterday. The total number of traders also rose more than 50% since Thursday. Those numbers represent around 10,720 transactions over the last week. Almost 2,500 of those trades have been within the last 24-hours.

Big sales are moving the market
The rise in interest came after several sales in the millions of CryptoPunk NFTs on July 30. CryptoPunk#5217 sold for $5.45 million from user Snowfro to an unknown buyer. Meanwhile, CryptoPunk#2140 sold for $3.76 million to an American entrepreneur, Gary Vaynerchuck. The two remain the third and fourth highest-selling examples of the collection to date. Those two sales contributed to the best 24-hour period CryptoPunk NFTs have seen in terms of volume, hitting $46 million on Thursday, July 29.

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