Key Takeaways
- CryptoPunks has recorded over $3.1 billion in lifetime sales since 2017.
- Ethereum is trading up by over 60% in the past 30 days.
- CryptoPunks sales have climbed 467% to $22.19 million in the past 7 days.
Altcoin season is getting closer as Ethereum (ETH) bulls prepare to push the token to new highs, which has led some investors, like former BitMEX CEO Arthur Hayes, to make some bold predictions.
For one, he believes that CryptoPunks non-fungible tokens (NFTs) are going to outperform ETH this cycle.
So, is it NFT season?
Top Trending Crypto Articles
CryptoPunks Up
According to Hayes, CryptoPunks, a collection of 10,000 NFTs that have recorded over $3 billion in lifetime sales since launching in mid-2017, will outperform Ethereum in the next bull cycle.
According to CryptoSlam data, CryptoPunks are relishing in the market’s uptick and have seen a 467% increase in sales in the past week, totaling $22.19 million.
They’ve recorded $2.61 million in the past 24 hours, with several CryptoPunks selling for an average of $200,000.
Fascinatingly, a new wallet recently bought dozens of CryptoPunk NFTs at a floor price of $175,200 per token. The 46-NFT strong collection is currently valued at $6.7 million.
Bullish as ever, he also recently predicted that BTC to hit $250,000 and ETH to reach $10,000 by the end of the year.
He believes ETH’s overperformance will be extraordinary, which, if true, would set altseason into full swing, and that may trickle down into NFTs.
NFTs Are Back?
Ethereum is rising fast. It has gained over 60% in the past 30 days, raising its price above $3,600.
Naturally, this has positively affected the altcoin market. So could CryptoPunks’ success have a similar outcome for NFTs more broadly?
Seemingly, yes.
NFT sales volumes are up 21.16% at $194 million in the past week. This is coupled with a 76.22% increase in NFT buyers, which now stands at 251,678.
Aside from CryptoPunks, popular collections like Bored Ape Yacht Club (BAYC) sales are up 74.44% at $5.7 million, as are Pudgy Penguins sales, which are up 5.98% at $8.99 million.
In an honorable mention, the recent uptick in NFT sales can also be attributed to the passing of legendary rockstar Ozzy Osbourne, whose CryptoBatz collection saw over $264,500 in sales over the past 24 hours.
Top Trending Crypto Articles
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
