Blistering NFT ‘sweep’ underway as CryptoPunks, Penguins surge
Main Idea
Investors are returning to the NFT market, evidenced by significant price surges and increased trading activity in blue-chip NFT collections like CryptoPunks and Pudgy Penguins.
Key Points
1. CryptoPunks saw a 15.9% spike in floor price to 47.50 ETH ($179,000), with 83 NFTs acquired by new holders in a single day.
2. Pudgy Penguins' floor price rose over 15% to 16.60 ETH ($62,597), with 100 new holders acquiring NFTs.
3. The broader NFT market cap increased by 21.2% in 24 hours to over $6.34 billion, with total sales volume up 303% to $38.7 million.
4. The YOU THE REAL MVP NFT collection led gains with a 1280% increase in value.
5. Experts and community members suggest the NFT market may be rebounding after a period of decline, citing recent high-profile sales and increased investor interest.
Description
CryptoSlam strategist Yehudah Petscher told Cointelegraph in May he thought the market was poised for a rebound, but with a more tempered outlook.
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