Last week, the CryptoPunks NFT series set a new record with over $24.6 million in trading volume, marking the highest weekly total since March 2024. And guess what? That’s a jaw-dropping 416% increase from the week before. Talk about a comeback!
CryptoPunks Surge in Value
But the fun doesn't stop there. CryptoPunks’ floor price shot up from around 40 ETH to a solid 53.85 ETH. In dollar terms, the average sale price surged from $140,000 to $208,792 in just two weeks. Now, that’s some serious cash flow.
Why Did CryptoPunks See Such a Massive Spike?
So, what’s driving this crazy spike? Well, it’s no secret: GameSquare, the media firm behind FaZe Clan and a Nasdaq-listed company, dropped a cool $5.15 million in preferred shares to snag Punk #5577, one of only 24 “Ape Punks.” They valued the Punk at roughly three times its floor price, marking the first big corporate NFT acquisition funded by equity. Smart move, right? It also framed the Punk as a yield-generating asset for the balance sheet. This bold move is likely sending a signal to deep-pocketed funds and high-net-worth individuals that CryptoPunks are now legitimate treasury assets. It’s no wonder fresh bids are flooding in across the entire collection.
It’s clear: CryptoPunks are no longer just a digital trend. They're becoming serious business.
Gunel Ismayilova
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