CryptoPunks Trading Volume Surges 11.7 Times in Week
CryptoPunks trading volume has surged 11.7 times in a week, according to CryptoSlam, with approximately $8.2 million in unadjusted trading volume last week.
The surge was triggered by a buying spree on September 23, where buyers purchased around 63 Punks for about $6 million, raising the floor price from around 29 ETH to about 34 ETH within two days.
Rare and highly sought-after items are selling for millions. On October 1, two of the rarest Punks were traded in USDC within 12 hours via GONDI's 'Sell & Repay' feature. Punk #8348 sold for 3 million USDC plus an undisclosed amount, marking the largest single transaction in GONDI history.
The fact that ETH is currently around $2,690, about 46% below its peak, suggests Punks are beginning to trade according to their own logic.