Featured News Headlines
CryptoPunks Floor Price Surges Past $200K Amid NFT Market Rebound
CryptoPunks Rally – The legendary CryptoPunks NFT collection is once again making headlines as its floor price jumps by 163% over the past year. Since August 2024, the minimum buy-in has surged from 20.45 ETH to 53.98 ETH, translating to just over $200,000 at current Ethereum prices (~$3,745).
This marks the highest level for CryptoPunks since March 8, 2024, signaling a strong rebound in the market’s appetite for blue-chip digital collectibles.
Massive “Sweep” Sparks Market Excitement
A major catalyst behind the surge was a high-profile sweep last week, where an anonymous buyer scooped up 45 CryptoPunks in a single transaction. In NFT circles, sweeping refers to the strategy of purchasing large quantities from the same collection to capitalize on rising value or rare traits.
The event caught the attention of Beeple, the iconic digital artist who famously sold an NFT for $69 million at Christie’s in 2021. Beeple responded with a custom piece titled “BIG SWEEP”, further energizing community buzz.
Ethereum NFT Market Sees Highest Volume in Months
The floor price rally aligns with a broader spike in Ethereum NFT trading volumes, which reached $26 million on July 20, followed by $24.9 million on July 21, according to Dragonfly’s Hildebert Moulié. Over half of that activity flowed through CryptoPunks.app, the collection’s official marketplace.
Collectors are zeroing in on high-value traits like “hoodie” Punks, and some are even using their NFTs as collateral on Gondi, where CryptoPunks account for over $21 million in active loans, based on May research by Dapp Radar.
Rising ETH and Weaker USD Boost Dollar Valuations
A weakening U.S. dollar, combined with Ethereum’s price rally, has significantly inflated the dollar-denominated value of top-tier NFTs. In July alone, the total NFT market cap jumped from $3.6 billion to $6.8 billion, according to CoinGecko.
CryptoPunks’ resurgence suggests a renewed optimism in the NFT space—one still rooted in its most iconic and trusted collections.
