NFT Market Highlights: CryptoPunks Dominate 24-Hour Volume at $461.8K

Regarding trading, the activities remain volatile in NFT markets. On the 28th of October, 2024, CryptoPunks emerged as the best-seller collection according to the 24H volume. The cryptopunks dominated the market with a trading volume of $ 461.8K, considered valuable in the collector’s market. Some other collections, such as Guild of Guardians and Pudky Penguins, also showed high performance, proving diverse interest in the NFT market.

CryptoPunks Hold Top Spot in 24-Hour Volume

CryptoPunks continue solidifying their standing as a blue chip NFT project with almost half a million dollars in trading volume and only six sales. The series is among the first and the most recognizable NFT projects, always experiencing high demand and often associated with art and crypto culture. This recent trade boom involved CryptoPunk #1587, which sold for 103.1K, which made this one of the largest trades of the past day.

Second to CryptoPunks in terms of volume is the Guild of Guardians set, which was traded at a 24-hour volume of 459.64K with 846 sales. The average price per sale is comparatively low, but the large number of transactions indicates that the collection is diverse and affordable by many. Pudgy Penguins completes the Top 3 collections with $383.92K in 24 hours across 17 sales, showing that the collection sustains an eager community and is relevant in the current marketplace.

Top Sales and High-Value NFTs

Apart from CryptoPunk #1587, other primary trades in the last 24 hours include CryptoPunk #4480 ($86.35K), CryptoPunk #8514 ($64.54K), CryptoPunk #3143 ($64.54K), and CryptoPunk #1175 ($80.11K). Not only do such premium sales support the CryptoPunks’ appeal, but they also demonstrate that collectors are comfortable spending great amounts in this niche.

Marketplaces Fueling the Trading Boom

By trading volume, OpenSea topped the list of other NFT marketplaces, having processed $4.77M in trades in the last 24 hours with 11.38K active traders. This high activity level shows that OpenSea remains the leading marketplace, predominantly in NFT sales. The other marketplaces that traded significantly are Blur, with a trading volume of $1.57M, and Magic Eden, of $1.01M, with element and tensor rounding off the first five places.The trading volumes reflected on these platforms show that a healthy NFT marketplace is being developed to target various communities of interest. The variety of approaches to engage users, for instance, through the reward program and collections exclusive to each platform, contributes to the NFT market’s popularity.