NFTs are doing very well, with CryptoPunks leading the way as the number one collection in the market. A recent report from Phoenix Group revealed that the 24-hour trading volume for CryptoPunks reached an impressive $56.85 million, highlighting the ongoing interest in these iconic digital collectables. Besides CryptoPunk, other NFT collections such as Guild of Guardians and Fantasy.top have put up some serious numbers, proving how varied the NFT world has become today.
#NFT MARKET OVERVIEW TOP COLLECTION #CryptoPunks – 24H Volume $56.85M TOP SALE… pic.twitter.com/pOdTtNpTme
— PHOENIX – Crypto News & Analytics (@pnxgrp) October 4, 2024
Top NFT Collections by Volume
Leading the NFT market is CryptoPunks, with a 24-hour volume of $56.85 million, and this large number was only from nine sales. Even though it only has a fraction of the sales volume, CryptoPunk’s average transaction value of millions of dollars makes it the blue-chip standard in the NFT space.
The next closest collection is Guild of Guardians, with a more modest 464.51K in volume and 802 in sales, demonstrating that while its average price per unit is significantly lower than that of CryptoPunks, its user base and activity levels are considerable.
Further down the rankings, NodeMonkes, Bored Ape Yacht Club (BAYC), and Bitcoin Puppets all posted over $300K in daily volume, with sales figures ranging from 12 to 46 transactions. That continuing action over so many collections shows prolonged involvement and curiosity over different NFT projects.
Top Five Largest in 24 Hours: CryptoPunks Tops
Regarding the specifics of single NFT assets, CryptoPunks remains a market leader. The most expensive NFT sold last day was a CryptoPunk #1563, selling for $56.32 million. P2P sales also comprised Axie Infinity Land (-30, 27) at $88.03K and Bond Bear #1 at $78.07K. CryptoPunks also featured further in the top five with CryptoPunk #9480 ($74.43K) and Cryptopunk #9103 ($70.57K).
Leading Marketplaces: Where the Action Happens
Competition in the NFT marketplace is still high, with CryptoPunks leading in volume for the last 24 hours. CryptoPunk’s platform alone saw $56.85 million in volume, more than general marketplaces. The second biggest NFT marketplace, OpenSea, saw a trading volume of $8.48 million from 14.77K traders. Other marketplaces that supported the overall NFT space include Blur at $2.2M, Magic Eden at $937K, and OKX NFT at $771K.
These numbers imply that despite the extensive variety, OpenSea remains the platform of choice for many traders. However, CryptoPunks target clients with high purchasing power who drive massive volumes with relatively few transactions.
The NFT market remains bullish, with iconic collections like CryptoPunks. With newer projects coming up and NFTs gaining popularity, the market is set to expand further, creating even more opportunities for both high-end collectors and casual enthusiasts.
