- On November 17, CryptoPunks’ floor price hit 37.3 ETH, the highest since May.
Although the NFT market has recovered significantly in November, CryptoPunks has been the most successful. Even if the NFT industry as a whole has been growing, CryptoPunks’ performance is far better than that of other well-known collections.
BAYC, Milady Maker, and Pudgy Penguins, on the other hand, have grown by 7%, 34%, and 28% over the same period. These rival collections’ floor prices have increased by an average of 34.5%, which is significantly less than CryptoPunks’ 47% increase.
One of the earliest notable NFT initiatives, CryptoPunks, is a symbol of NFT culture and history. Older “whale” traders and market players view them as reliable blue-chip assets due to their inherent value as “OG” NFTs.
Following Bitcoin’s new all-time high, there has also been a surge in optimism in the larger market. This renewed confidence has probably permeated NFTs, with high-profile collections like CryptoPunks reaping disproportionate benefits from the increased attention.
CryptoPunks are a popular alternative asset during periods of capital rotation because, in contrast to certain more recent collections, they have a substantial secondary market presence and relatively high liquidity.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
