CryptoPunk Loans Reveal Hidden Market Dynamics

🕵️ CryptoPunks' secret life

By NFTfi
Oct 15, 2024, 3:31 PM
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Recent data shows CryptoPunks' market activity extends beyond sales.​ While 1,648 CryptoPunks were sold in the past year, NFTfi facilitated 946 loans using CryptoPunks as collateral.​

This highlights the importance of considering alternative metrics when assessing an NFT collection's value and market dynamics.​

The news comes as Bitcoin approaches its all-time high, coinciding with high-value NFT sales resurfacing.​ A recent CryptoPunk sale for 4,500 ETH (over $16 million) marks the collection's second-largest sale ever.​

These developments underscore the complex interplay between cryptocurrency markets and NFT valuations.​

Sources
NFTfi.com
NFTfi.com
@NFTfi
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In the past 12 months, there have been 1,648 CryptoPunk sales. But did you know that 946 CryptoPunk loans also happened on NFTfi? Trading volume alone doesn't provide a complete picture of how a collection's value evolves over time. Let's dig in 🧵

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