- CryptoPunk remains the most popular NFT collection, among the latest 24 hours’ sales the CryptoPunk #1219 was sold for $308000.
- It lends stability and liquidity to the NFT market at the same time as this can be compounded by lowered market expansion within the realms of cryptocurrency trade.
- Although CryptoPunks dominate, other collections like BondBear are also selling their NFTs for substantial value and further proving the growth of the market.
Building on the trend of high-value transactions, CryptoPunks are back to ruling the non-fungible token market again. This week, CryptoPunk #1219 was auctioned for $308,000, which made for another intense week in the NFT market. The sale furthers the list of major deals on old-gen NFTs, which supports the theory that the interest in these digital assets remains high regardless of the general crypto market conditions.
Legacy NFTs continue to Thrive
CryptoPunks, the iconic and one of the oldest sets of NFTs, remains actively popular in the market. Even though some people doubted whether there would be continued demand for NFT in the future, sales figures in recent time seem to debunk such opinion. The aforementioned sale of CryptoPunk #1219 for $308,000 is not an isolated incident. Other punks like #4061 were sold for $130,000 while #4974 was sold for $101,000 making the whole collection a “blue chip” investment in the digital art space.
Although CryptoPunks remain on the forefront in terms of attention they receive, they are far from being the only NFTs that attract much attention. Another similar and possibly even more rare piece from the same artwork is Bond Bear, which was flipped for $85000. This shows that there is still much more out there in the NFT space. This means such avatars as CryptoPunks can be leaders, but it also means that other competency and participation can be successful.
Strong Liquidity in the NFT Space
The most remarkable observation from these sales is that the liquidities’ are still active in the NFT market. While there are larger considerations with respect to fluctuations in the cryptosphere, NFTs remain to perform a large number of transactions.
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The continued resilience of CryptoPunks and other highly ranked NFTs suggest that the market is developing and that blue chip tokens are stable even as newer drops are released. For now, it is safer to side with the traditional type of NFTs as the market for these tokens progresses and expands.
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