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5.75 Million XRP Traded in 2 Hours on XRPL's "CryptoPunks" NFT Collection

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Wed, 2/11/2022 - 10:05
5.75 Million XRP Traded in 2 Hours on XRPL's "CryptoPunks" NFT Collection
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Yesterday was an eventful day in the life of XRP Ledger regarding NFT. On the same day as the implementation of the long-awaited new standard, XLS-20, the XPUNKS collection was launched - a counterpart to the now legendary CryptoPunks, but on XRPL. At yesterday's XLS-20 NFT sales launch, XPUNKS was probably the most popular and in-demand collection.

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The minting of XPUNKS and a couple of other new XLS-20 NFTs took place on the onXRP marketplace, arguably one of the leading projects of the ecosystem. According to statistics, XRP's trading volume reached 3 million, the equivalent of $1.4 million, in the first hour since the start of minting. In two hours, volume has increased by almost another 3 million XRP, which is the equivalent of $2.63 million.

XLS-20 NFT sales have therefore surpassed the recent NFT sale on Reddit and reached a quarter of Cardano NFT's monthly figures, which experienced a spike in interest in the past month. The XRPL Punks' floor price is now set at XRP 2,750, and only 728 of 10,000 items have been sold so far.

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What's the target?

According to Kaj Leroy, head of onXRP and creator of XPUNKS, XRP Ledger could become at least a third force in the NFT space. Given that Cardano's top marketplace has sold NFT worth $11.2 million in the past 30 days, XRPL could easily overtake them in the first month, Leroy said.

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