A resurgence in the profile picture has made NFTs “Punks” top… the details inside

  • Ethereum-based NFTs have seen the most activity since 2023.
  • CryptoPunks held one 8.10% of the total NFT market cap at the time of publication.

The general stability of the general cryptocurrency market since the start of the 2023 trading year has renewed interest in Profile Picture NFTs (PFPs), with Ethereum-based NFT pools seeing the most traction.

According to information from cryptoslamWith 726,992 Ethereum [ETH]Existing NFT sales transactions have been completed since the beginning of the year, and the sales volume on the network is $289.47 million at press time. In addition, in the last 17 days, the highest daily sales volume on the network was $30.11 million on January 6.

“Bank” NFTs to win

After a temporary decline in market share during December 2022, the CryptoPunks NFT pool has regained its position as the project with the largest market capitalization in the crypto ecosystem’s vertical NFT.

According to the NFT analysis platform NFT GoCryptoPunk has a market capitalization of $1.71 billion at the time of writing. In the past month, this has increased by 14%.

Also, increased business activity for CryptoPunk’s NFT pool over the past 30 days has resulted in a 42% increase in sales volume per NFTGo. As a result, the turnover during the reporting period amounted to 21.06 million US dollars.

Source: NFTGo

Data from NFT Floor Price showed that the ground price of the project has grown significantly in the past month. During that period, the price of CryptoPunk NFT increased by 6%. At the time of publication, one NFT can be obtained from the CryptoPunks pool for 67.47 ETH.

Source: NFT Floor Price

With a market capitalization of $1.71 billion, CryptoPunks held an 8.10% share of the total market capitalization of $22.7 billion. The Bored Ape Yacht Club followed [BAYC]Which has a market capitalization of $1.68 billion with a market share of 8.03%.

Source: NFTGo

Interestingly, looking at the all-time sales volume for both BAYC and CryptoPunks revealed that more BAYC NFTs were sold.

Mad return of PFP?

The year to date has seen a slight uptick in NFT trading activity as both buyers and sellers have increasingly interacted across several markets, thus completing a large number of sales transactions.

for each data from Dune analyticsThe number of completed NFT transactions so far this month has reached 144,105 transactions, exceeding expectations of 124,689 transactions, and 128,450 of those transactions have been completed on OpenSea.

Source: Dune Analytics

So far this month, $471 million worth of NFT sale transactions have been completed, and the overall market capitalization has increased by 7%.

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