CryptoPunks Continues Run Following Yuga Labs Announcement

Yesterday, the market saw CryptoPunks reassert dominance as the project had by far the most volume of any NFT collection and saw its floor price go from under 50.0 ETH to sitting at its current price of 66.65 ETH according to the Larva Labs website.

Following today's announcement from Bored Ape Yacht Club Co-Founder @CryptoGarga where he said Yuga Labs will begin transferring commercial rights to CryptoPunks holders, speculation has begun that the market's recent positive reaction to CryptoPunks was based on the news of this announcement.

Regardless of the reasoning, CryptoPunks has done over 8,000 ETH in trading volume in the last 24 hours, which is over $8 million dollars.

For reference, this is more volume than Bored Ape Yacht Club, Moonbirds, Mutant Ape Yacht Club, Otherside, Clone X, Azuki, Doodles, and World of Women have done combined in the same time span according to the Lucky Trader Project Rankings

 

One of the most iconic NFT collections of all-time, CryptoPunks was developed by Larva Labs and released in 2017 as a free-to-claim experiment. CryptoPunks, along with the Bored Ape Yacht Club led the NFT bull run of 2020 and helped bring digital collectibles to the mainstream through high profile auctions and celebrity onboarding. In 2022, Larva Labs sold the intellectual property of CryptoPunks to Yuga Labs, who created the Bored Ape Yacht Club.
Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice.
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