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The recent sale represents the second-largest NFT sale recorded on the XRP Ledger (XRPL).
The XRP Ledger (XRPL) just witnessed the sale of a single XPUNK NFT for 75,300 XRP, currently valued at over $37,000. The sale occurred on the popular marketplace onXRP, and represents the second largest NFT sale recorded on the XRP Ledger.
onXRP called attention to the development through its Twitter handle today, touting it as “another milestone for NFTonXRP.” The sale, which occurred seven hours ago, involved XPUNK 6697. The NFT in question is ranked no. 1 in rarity score among the 10,000 collectibles in the XPUNK collection.
The #1 XPUNK just got sold for 75300 XRP (37202 USD). Another milestone for the NFTonXRP. pic.twitter.com/vEFb27Op43
— onXRP.com (@onXRPdotcom) April 20, 2023
On-chain data suggests that this is the largest NFT sale recorded on XRPL this year, and the second largest of all time. The largest sale of all time occurred last November and involved the sale of XPUNK 8811 which is ranked no. 3 in terms of rarity score.
The XPUNKS collection on the XRP Ledger has contributed massively to the total transaction volume observed on the network. Notably, the collection currently boasts a total volume of 3.69 million XRP (~$1.82 million), the largest for any single NFT collection on XRPL.
NFT Volume on XRPL Exceeds 21M XRP
Owing to the contributions made by XPUNKS and other NFT collections such as xSPECTAR, Bored Apes XRP Club and UNIXPUNKs, the NFT market on XRPL has witnessed a major boost in recent times.
Data from Bithomp, an XRPL explorer, indicates that the XRP Ledger has seen a total of 142,442 NFT trades since NFT functionality came to the network. These trades have a total cumulative volume of 21.24 million XRP valued at an excess of $10.4 million.
According to Bithomp, of this total volume, 14.69 million XRP went through known brokers, or NFT marketplaces. onXRP, the most prominent XRP marketplace on the network, takes a large portion of the volume, boasting a total trade volume of 10.98 million XRP, on track to hit the 11 million XRP threshold.
This rapid surge in trade volume underscores the growing adoption rate of NFTs on XRP. Recall that total volume stood at 10 million NFT by the end of 2022. The current value of 21.24 million indicates that transaction volume increased by 112% in less than four months.