This NFT Coin Is Selling For Crazy Prices! Here’s Why…

NFT Coin: Despite the massive drop in the NFT coin market, CryptoPunk 4464 has a price tag of $2.6 million. This indicates that the best NFT projects still manage to attract serious attention.

CryptoPunk managed to find buyers at a crazy price

AmkNews.comAs you can follow, the Non Fungible Token (NFT) market has seen a huge drop in trading volume. Despite this, a single CryptoPunk has found buyers for 2,500 Ether (ETH). That equates to a price tag of just over $2.6 million. The $2.6 million transaction made the sale of CryptoPunk 4464 the largest NFT coin sale in the entire market in the last 30 days.

Viewed through the lens of Ethereum-based pricing, the sale makes this particular Punk the collection’s fourth most valuable sale of all time. But the recent downward pressure in ETH price means that the dollar value of NFTs has suffered significantly over time. 15th most valuable CryptoPunk sale to date in US dollars.

NFT coin market attracts attention even though it’s going through tough times

Contrary to the bearish sentiment around NFTs, the floor prices of the best collectibles have really been rising in recent weeks. For example, the base price of the CryptoPunk project has increased by more than 65% in the last 30 days. As you know, Bored Ape Yacht Club (BAYC), the most popular NFT coin project in the crypto market. This NFT coin has seen a 21% increase in its average floor price. In addition, the floor price of BAYC’s complementary project Mutant Ape Yacht Club (MAYC) increased by 25%.

Meanwhile, the larger trading volume in the NFT market fell. Also, average floor prices fell to new year lows. Despite this, the record sales are a sign that the most popular NFT projects are still gaining serious attention. Unfortunately for intangible enthusiasts, NFT market cap has dropped 32% in the last three months, according to data from NFTGo. Also, the market lost more than 70% of its trading volume.

Meanwhile, the number of users on OpenSea, the largest NFT market by volume, has dropped nearly 9% last month, according to DappRadar. At the end of last month, total NFT trading volume on the platform had dropped roughly 65% ​​to $500 million. However, lower ETH prices also lowered overall volume. On the other hand, the number of first-time NFT buyers has remained relatively consistent with around 5,000 users since March this year. According to experts, this indicates continued market appeal for NFTs on the Ethereum network.

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Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing amknews.com site 3 months ago.