Did someone say the NFT bubble has popped?
If you were in a cave or comma, we excuse you for not seeing the explosion of Punks, IT IS UP THAT HIGH.
The sales of Punks have been insanely soaring in the last week.
The Cryptopunks did $866K of total volume in their first 3 years, they've done $55M in the last 24 hours.
— Larva Labs (@larvalabs) July 31, 2021
Also amazing to see Autoglyphs and Meebits in the top 10 at the same time.
Reminder: @cryptopunksbot @autoglyphs @themeebot announce sales, top 10 is from @cryptoslamio pic.twitter.com/dpw6SgSNIh
Quick Recap of last week’s turn of events which escalated to the Interstellar bids to set a new record.
We had covered every major move on our LIVE Twitter Feed in greater detail.
Cryptopunk Market is on 🔥🔥🔥
— Redlion.news (@redlion_news) July 26, 2021
Floor ~22 ETH https://t.co/BRRoJbgeUv
Kicked off with a bang - Fractionalisation was getting attention and the offer rocketed the floor, Huge bids for Bandana Traits.
Bids turned to Sale and the party was just getting started 😋
Punks went mainstream - Tokyo Olympics, we had previously brought the significance of it in our last week’s edition ( check it out if you missed our #issue 45 )
“Eth Whale now owns more than 1% of the total cryptopunk NFTs..”
HypeBeast’s latest insights suggest, the acquired limited-edition Punks could be sold for around 232,000 ETH. When given allowances and inflation, It can move $600 million in volume, provided that the average value of Punks had been 22 ETH.
CELEBRITIES ON A SHOPPING FRENZY.
Gary Vaynerchuk just purchased an Ape for almost $3.7 million. Vaynerchuk himself had confirmed previously that he owns around 50 punks.
Rapper Jay-Z had followers churning with speculations when he changed his Twitter avatar to the picture of punk 6095 indicating that he may have bought it.
theres nothing like #cryptopunks pic.twitter.com/Wnpog00XV5
— Gary Vaynerchuk (@garyvee) July 29, 2021
Sounds like a familiar trend eh...
Eventually leading to a scarcity of available Punks and pushed the floor of Ape to 10K $ETH. So far things were priming up for a blast.
The real icing on the cake was the brilliance of the anonymous wallet that did something strange which led to chaos
TLDR;
“2.2K ETH was splashed to buy punk floor and Tipped miner 5ETH. Creating literal explosion in discord and NOW we know where the fractionalising talks were leading to”
An entire block swept the punk floor without a buzz, a perfect calm before the storm. They tested the feasibility with 2 punks in a single block, a surgically precise execution for the master plan. MEV at work here. The whole chain of events is just a beginning…which will take PUNKS and the entire NFT market from Illiquid to liquid. Signs of institutional money, 3AC wallets, Fractionalising shares, We are excited to witness and report first-hand. Only Time will tell.
