Record-Breaking CryptoPunk Sale Triggers NFT Market Surge

CryptoPunk #6940 set a new record by selling for $507,617, marking the highest NFT sale in the past six months and throughout 2024

The sale of CryptoPunk #6940 triggered an impressive 85% surge in CryptoPunks' trading volume

Other metrics, including the number of traders and market capitalization, were positively impacted by the record-breaking sale

Despite a dip in Ethereum's price, the NFT market experienced overall growth in daily volume, the number of buyers, and transactional activity

Collections such as CryptoPunks, CryptoUndeads, Dokyo, and Ordinals observed increased buying and selling activities

The global NFT sales volume jumped by 16.45% within a 24-hour period, indicating a potential comeback for the NFT market.