The two collections of CryptoPunks and Bored Ape Yacht Club (BAYC) continue to blow up the NFT market, with CryptoPunk #5066 selling for 857 ETH, the equivalent of $1.4 million.
CryptoPunks and BAYC and the recent million-dollar NFT sales
Over the past few days, the two popular NFT collections of CryptoPunks and Bored Ape Yacht Club (BAYC) have recorded million-dollar sales.
Specifically, CryptoPunk #5066 was sold last Monday for 857 ETH, the equivalent of $1.4 million.
Punk 5066 bought for 857 ETH ($1,400,192.27 USD) by 0x26206c from 0x8721cf. https://t.co/Su6Cyohr8r #cryptopunks #ethereum pic.twitter.com/wwmKp9Dsjk
— CryptoPunks Bot (@cryptopunksbot) February 6, 2023
The seller is Kevin Rose, venture capitalist, serial entrepreneur and well-known NFT collector and co-founder of the NFT startup Proof (Moonbirds). However, the buyer is apparently unknown, although it appears that soon after the purchase, the NFT was transferred to another wallet, called bitshamed.eth.
A BAYC NFT also saw the same kind of sale. It is BAYC #7090 was sold on x2y2 for 800 ETH, or $1.3 million. The seller turns out to be Jimmy “j1mmy” McNelis, whereas again the buyer is not identified.
Ape #7090 bought for 800.00 ETH (1,304,744.04 USD) on X2Y2 #BAYC #BoredApe https://t.co/KfYR9Z87ZT pic.twitter.com/140OkQWCI6
— BAYC Sales Bot 🤖️ (@BAYCsalesbot) February 7, 2023
The sign of recovery in the Non-Fungible Token market
When a million dollar sale occurs, a collective sigh of relief sweeps over the entire NFT market. These days the two collections have achieved that goal.
Since the beginning of 2023, according to data from DappRadar, sales volume rose 38% to nearly $947 million in January, while the total number of NFTs sold during the month increased 42% to 9.5 million.
According to CryptoSlam’s data, over the 7 days, the blockchain ranking regarding sales volume sees Ethereum in first place with a 32.5% increase, followed by Solana which saw a 16% drop and then ImmutableX with a 26.8% increase in NFT sales.
CryptoPunks drops to second position by market cap
Compared to the end of January, CryptoPunks’ total market cap fell to 807,000 ETH, causing the NFT collection to drop to second place, according to NFTGo data.
In fact, completely dominating the NFT scene is the BAYC collection which, at the time of writing, has over 854,000 ETH in total market capitalization and 984,000 ETH in total sales volume. In contrast, CryptoPunks sees a total sales volume of 958,000 ETH.
Furthermore, there have been as many as 16 sales of NFTs from the BAYC collection in the past 24 hours. Compared to 2 from the CryptoPunks collection. Even in the past seven days, BAYC NFT sales have been higher than those of CryptoPunks, accounting for 127 versus 43.
