Punks Flip Bored Apes, But Only Briefly

Punks Flip Bored Apes, But Only Briefly

After converging over the course of the last month, the floor price for CryptoPunks briefly flipped that of Bored Ape Yacht Club NFTs according to our project rankings page

The "flippening," which was official for approximately 45 minutes, was set with floor prices of 66.45 ETH and 64.99 ETH for Punks and Apes, respectively. However, since that time - an accepted sale and canceled listing have pushed the Bored Ape Yacht Club floor back up to 70 ETH while the Punks floor price remains at 66.45 ETH. 

The move marked the first time Punks have held a floor price above that of Bored Apes since December 2021, when the Bored Ape Yacht Club floor price first climbed higher than that of CryptoPunks. 

It's impossible to pick out one specific catalyst for this trend and converging floor prices, though storylines have been aiding the "re-flippening" trend in the last few weeks. 

For example, CryptoPunks have seen two notable announcements in the last two weeks thanks to a high-status "collaboration" with Tiffany & Co. and Yuga Labs releasing the IP rights of each CryptoPunk to its respective holder

Meanwhile, less positive sentiment has surrounded the Bored Ape Yacht Club collection and the unfolding situation with BendDAO (as outlined by Lucky Trader's Tyler Warnercontinues to weigh negatively on the floor price. 

While the flip did happen for a brief period of time, the difference was still just a minuscule 1.46 ETH. And now that Apes are back on top, will it stay that way? Or is the market headed for a more sustained flip that puts Punks back on top for a considerable amount of time? 

More about CryptoPunks

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.

At the time of publish, the CryptoPunks floor price sits at 62 ETH, and has stayed relatively flat over the past 24 hours on 631 ETH volume of transactions. Over that same timeframe, 1 sharp wallets have sold 2 NFTs and 1 sharp wallets have bought 3 NFTs in the CryptoPunks collection. Catch up on other recent CryptoPunks news here.

Recent CryptoPunks Sales

#3229sold at 12/03 7:12pm for
89.0
#7386sold at 12/03 4:12pm for
108
#3483sold at 12/03 3:12am for
77.7
#6802sold at 12/03 3:12am for
73.0
#7647sold at 12/03 12:12am for
65.5

Recent CryptoPunks Listings

#3229listed at 12/03 6:12pm for
89.0
#9691listed at 12/03 5:12pm for
65.9
#1829listed at 12/03 4:12pm for
95.0
#7386listed at 12/03 4:12pm for
108
#959listed at 12/03 3:12pm for
230
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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