Earlier this week, CryptoPunks sales volume briefly fell, and the Punk boom appeared to be coming to an end. Not so quickly.
A single CryptoPunk Zombie was sold today for $3.9 million to Pranksy, a well-known NFT collector.
This is the CryptoPunk’s eighth highest sale. The highest sale on Larva Labs was set on March 11, when a Punk sold for 4.2k ETH, which was worth $7.58 million at the time. The most expensive one sold for $11.8 million, but it was outside the Larva Labs ecosystem.
The zombie sold today is one of 88 Zombie Punks among the 10,000 avatars in the project. The avatar is one of 526 people who have a “shadow beard,” and only 428 people have the same dark mohawk.
According to CryptoSlam, the sale represents just under a third of CryptoPunk’s daily trading volume and is one of only 14 purchases made today. Since then, only one CryptoPunk has been sold: a male wearing small sunglasses and a cap for $371,495.
However, the Punks’ sales are dwindling. It’s unclear whether this is due to people still holding their CryptoPunks, which have since become a way to flaunt your wealth on social media sites like Twitter, or if they’re sick of the avatars.
Sales increased from $14 million on August 22 to $134 million on August 23, before falling back to $47 million on August 25. On August 28, trading volume reached a new high of $195 million, the highest ever. Sales have since fallen to around $22 million per day, with the exception of a single surge to $40 million on September 1.
Instead, people are trading other NFT projects. Mutant Ape Yacht Club, a breeding project of The Bored Ape Yacht Club, has generated $220 million in the last week. Loot, a collection of randomly generated text images, has amassed a trading volume of $173 million.
CryptoPunks, once the most popular project on the market, has fallen to fifth place on CryptoSlam’s weekly sales leaderboard.