As one of crypto’s original first-mover NFTs, CryptoPunks is currently sitting at staggering 93% decline in total sales. Even with this downturn, individual CryptoPunks are still selling for multi-millions, demonstrating the collection’s lasting value to collectors. Although the floor price across the NFT market drops, the CryptoPunks is one of the most iconic NFT collections on the Ethereum blockchain. It still manages to get a few of those high-value, chart topping dwarfs’ sales.

Sales Volume and Collection Ranking

For context, CryptoPunks collection rank has now dropped to 6th place, even despite the villainous total market activity crash. The collection only brought in $1.7 million in sales, showing an enormous loss compared to past cycles. This drop is even more stark when magnified by a 38.7% fall in sales volume to $21.6 million.

That decline in sales volume includes declines in all of the key transaction metrics. CryptoPunks is down 51.2% in the number of transactions, showing decreased trading activity and peak speculation. From those levels, buyers are down a staggering 56.6%. Sellers have dropped by 59.4% as well, indicating a cool off of interest in the collection from all sides.

High-Value Individual Sales

Even with the broader crypto winter, CryptoPunks still drives some of the most expensive NFT sales. Additionally, four of the top five highest-priced NFT sales to date include CryptoPunks. This mode of game development further underscores the brand’s timeless intrinsic worth for collectors. CryptoPunks dominates the 5 highest-priced NFT sales with a whopping 10 total high-value sales.

For example, CryptoPunk #3873 was sold for 165 ETH or $259,514 at the time. Other high profile sales such as CryptoPunk #1820 fetched 72.69 ETH, or $118,299 at the time. Furthermore, CryptoPunk #1999 sold for 65 ETH ($103,110), and CryptoPunk #7163 was purchased for 62.5 ETH ($99,167). These high-value transactions further highlight the ongoing appetite for seldom-seen, unique pieces from the CryptoPunks collection.

Market Dynamics and Future Outlook

The present market conditions indicate a broader trend of where the conversation is headed in the world of NFTs. Demand for CryptoPunks is down, at least across the board. Individually, pieces still bring in record prices, showing that collectors recognize their historical importance and rarity. Despite the overall crypto market slump, CryptoPunks’ individual sales are still at the top of the NFT transaction leaderboard.

Buyers, sellers, and transactions are down dramatically. This is symptomatic of a broader market shift that we believe is driven by macroeconomic uncertainty and an evolving institutional investor appetite. In spite of all these difficulties, CryptoPunks is still one of the most recognizable NFT Collections ever created on the Ethereum Blockchain. Its resilience is a testament to a rapidly evolving, increasingly powerful digital world.