CryptoPunks Surge as GameSquare Drives Major NFT Investments
Main Idea
CryptoPunks experienced a significant surge in trading volume and prices, driven by GameSquare's high-profile acquisition of Punk #5577, reinforcing its status as a blue-chip NFT collection.
Key Points
1. CryptoPunks recorded a weekly trading volume of $24.6 million, a 416% increase from the previous week, marking the highest since March 2024.
2. The floor price rose from 40 ETH to 47.5 ETH, and the average sale price increased from $140,000 to $182,000 over two weeks.
3. GameSquare acquired Punk #5577, one of only 24 'Ape Punks,' for $5.15 million through a preferred share issuance, highlighting institutional interest in NFTs.
4. The surge in high-value sales and prices reaffirmed CryptoPunks' blue-chip status in the NFT market.
5. Despite unchanged transaction counts, the demand for NFTs continues to escalate rapidly, with potential for more institutional players entering the space.
Description
CryptoPunks' trading volume hit $24.6 million, marking highest since March 2024. GameSquare's $5.15 million investment in Punk #5577 fueled institutional interest. Continue Reading: CryptoPunks Surge as GameSquare Drives Major NFT Investments The post CryptoPunks Surge as GameSquare Drives Major NFT Investments appeared first on COINTURK NEWS .
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