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A CryptoPunk collectible recently sold for 205 Ethereum ($ETH) worth a whopping $507,617, amid an observable uptick in global non-fungible token ($NFT) sales, with sales volume surging by 17.72% in the past 24 hours.
Following the surge in $NFT sales volume, the market has recorded $38.28 million in sales over the last 24 hours. Interestingly, the CryptoPunk collectible represents the largest single $NFT sale in the past 24 hours and the last month.
$NFT volume rallies 17% - 1"> The sale, involving CryptoPunk #6940, occurred yesterday at 14:11 (UTC), per 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.
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The previous sale involving the collectible was worth 215 $ETH in April 2023. However, this sale was of less value due to Ethereum’s lower price at the time, amounting to $397,924. Atscrypto, a notable $NFT collector, had held the collectible for eight months before the recent sale.
Despite the massive transaction, the CryptoPunks collection has recorded a 22% decline in volume over the last 24 hours, dropping to $3.17 million. However, the global $NFT sales volume has only witnessed a considerable increase as total transactions have risen to 325,804.
The latest purchase comes over 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-wide downturn recorded in the past few weeks. Institutional interest in NFTs has also seen a rise, with CoinGecko recently confirming that 21 of the top 50 global fashion brands have $NFT projects.
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