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Crypto Punks Market Activity Grows Quarterly. Why Exactly?

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Tue, 29/06/2021 - 12:42
Crypto Punks Market Activity Grows Quarterly. Why Exactly?
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Approximately every 3 months, market activity on Crypto Punks increases. Analytical service Dune drew attention to the hype cycles of the most famous NFT tokens, which has a duration of three months.

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In particular, the last local peak of the Crypto Punks NFT’s average cost was observed in March. At the same time, it coincided with the ETH price, the most common unit of payment for ‘punks’.

Later in April, the cost of the Crypto Punks NFT set a historical high. However, the ETH price at the same time turned out to be significantly lower than the March quotes.

According to the graph ‘Cryptopunks average selling price’ previously, a similar situation was observed in November - December 2020, when prices for the NFT updated its local highs. The ETH cost didn’t adjust with the NFT market at that time.

Market indicators

Dune Analytics crypto service also provides a number of other metrics that clearly illustrate the NFT market development. In particular, Crypto Punks’ 2,636 unique buyers have spent on 4,200 digital collectibles worth 184,426 ETH. 28,117 transactions were made and confirmed. The most expensive bid was sold for 4,200 ETH.

Dune Analytics service is a provider of the Ethereum blockchain free analytics. The company's product line includes thousands of information panels for hundreds of projects, including those related to key indicators for DeFi, games and much more.

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