---
title: "NFT Boom: CryptoPunks Collection Shines With 900% Trading Volume Increase"
url: https://diffcoin.com/nft-boom-cryptopunks-collection-shines-with-900-trading-volume-increase/
description: "The non-fungible token (NFT) industry has predominantly experienced a decline in trading activity since the beginning of the year, but the market appears to"
published: 2023-11-12
updated: 2023-11-12
author: "Mila"
site: "Diffcoin"
---

# NFT Boom: CryptoPunks Collection Shines With 900% Trading Volume Increase

The non-fungible token (NFT) industry has predominantly experienced a decline in trading activity since the beginning of the year, but the market appears to be currently undergoing a noteworthy and positive transformation. Based on on-chain data, one of the major collections that seems to be leading this recent surge is the CryptoPunk non-fungible tokens.

CryptoPunks, a series of 10,000 unique pixel art characters on the Ethereum blockchain, gained widespread acclaim and fervent collector attention for a few years after its inception. However, interest in the collection has been relatively low in the past few months, coinciding with the widespread downturn in the NFT market.

## **Trading Volume Surge From $200,000 To $3,000,000 In One Week**

In recent weeks, the CryptoPunks collection has been garnering the attention of investors and collectors. According to data from blockchain analytics firm IntoTheBlock, there has been a substantial surge in the trading volume of the Cryptopunks NFT collection, escalating from $200,000 to well over $3 million in the previous week.

> The Cryptopunks NFT collection’s trading volume has increased significantly in the past week, from $200k to over $3M! 
> 🔗 [pic.twitter.com/ahBV646GKM](https://t.co/ahBV646GKM)
> 
> — IntoTheBlock (@intotheblock) [November 11, 2023](https://twitter.com/intotheblock/status/1723385822970315086?ref_src=twsrc%5Etfw)

The trading volume is a crucial metric that helps measure market interest, market activity, and liquidity of a non-fungible token collection. As such, high trading volumes often suggest rising liquidity and increasing demand for NFTs in a collection.

Furthermore, the surging trading volume of the CryptoPunks collection has translated to a drastic 1,000% increase in its sales volume. Based on data provided by CryptoSlam, the collection ranks as the highest Ethereum-based NFT collection by sales volume.

Another data point that points to the rising demand for CryptoPunks’ non-fungible tokens is the growing floor price. As of this writing, the NFT collection boasts a floor price of 59.4 ETH, reflecting a roughly 27% increase in the past seven days.

## **NFT Industry Witnesses Boom As Crypto Bull Market Approaches**

The recent interest in the CryptoPunks collection highlights the resurgence of the broader NFT market. According to data from IntoTheBlock, the daily trading volume of Ethereum-based NFTs crossed $30 million on Thursday, November 9, for the first time since early July.

![NFT](https://bitcoinist.com/wp-content/uploads/2023/11/F-t_yGJWkAAYYjI.png?resize=980%2C391)

```
Volume traded by NFTs on Ethereum | Source: X/IntoTheBlock
```

Interestingly, the timing for this favorable momentum shift couldn’t be any better, as the broader cryptocurrency market has also been experiencing a climate shift in the past few weeks. Bitcoin, the premier cryptocurrency fueling the current positive sentiment, is up by 37% in the past month.

If the highly-anticipated bull market does arrive, the NFT industry could capture a considerable chunk of the fresh money inflow, as recent on-chain data are pointing to a brewing bullish run for most non-fungible tokens.

![NFT](https://www.tradingview.com/x/f3fXCAoU/)

```
Cryptocurrency total market cap on the daily timeframe | Source: TOTAL chart on TradingView
```

*Featured image from iStock, chart from TradingView*

[Source link](https://bitcoinist.com/nft-boom-cryptopunks-shines-900-trading-volume-rise/)