A CryptoPunk collectible recently sold for 205 ethereum (eth) worth $507,617, amid an observable rise in global non-fungible token (nft) sales, with sales volume increasing by 17.72 % in the last 24 hours.
Following the increase in nft sales volume, the marketplace recorded $38.28 million in sales in the last 24 hours. Interestingly, the CryptoPunk collectible represents the largest single nft sale in the last 24 hours and the last month.
<img decoding="async" width="1024" height="139" src="https://crypto.news/app/uploads/2024/01/nft-sales-Jan-22–1024×139.png” alt=”CryptoPunk Sells for $500,000, nft Volume Up 17% – 1″/>
The sale, involving CryptoPunk #6940, occurred yesterday at 14:11 (UTC), according to data from Etherscan. Historical transaction data confirms that the price of the collectible has increased impressively over the past six years. Notably, the nft was minted in December 2017 for $128.
The previous sale of the collectible was worth 215 eth in April 2023. However, this sale was of lower value due to the lower price of ethereum at the time, amounting to $397,924. Atscrypto, a prominent nft collector, had held the collectible for eight months before the recent sale.
Despite the massive transaction, the CryptoPunks collection has seen a 22% volume decline in the last 24 hours, dropping to $3.17 million. However, the global nft sales volume alone has seen a considerable increase, as total transactions have increased to 325,804.
The latest purchase comes two months after another CryptoPunk collection made headlines for recording an impressive sale worth 600 eth (valued at $1.14 million at the time). This sale involved CryptoPunk #7458 and preceded a major revival in nft sales volume.
The recent development points to a resurgence of interest in digital collectibles despite the market slowdown recorded in recent weeks. Institutional interest in NFTs has also increased: CoinGecko recently confirmed that 21 of the top 50 global fashion brands have nft projects.
