CryptoPunk ranked most valuable as top 5 NFT collections hit $10.2 billion
CryptoPunks has been ranked the most valuable NFT collection as the combined market cap value of non-fungible tokens collections hit a total of $10.2 billion.
“The combined market cap of the top five NFT collections hit $10.2bn this week, and CryptoPunks make half of that value,” MejouresApuestas said in a report on Tuesday.
Data collected by MejouresApuestas revealed that top valued NFT collections such as CryptoPunks now has a market cap of over $5.1 billion as of this week.
The characters in the NFT collection are being sold with their proof of ownership recorded and saved on the Ethereum blockchain.
CryptoPunks lowest price trades at the available price of 96.5 ETH or almost $420,000, while their average price range is almost $535,000.
The reports also note that in the past year, CryptoPunks had been sold 11,650 times, and their lifetime sales hit a $1.56 billion value.
Behind CryptoPunks is Bored Ape Yacht Club with an estimated market cap of $1.8 billion ranked as the second most valuable NFT collection globally.
Other collections such as MakersPlace, SuperRare, and Rarible follow with $1.2 billion, $1.1 billion, and $921 million respectively in market cap.
Besides having the largest market cap among all NFT collections, CryptoPunks is recorded to have made some of the most expensive NFT sales.
On March 11, CryptoPunk #3100 was purchased for 4,200 ETH, or $7.58 million, breaking the record set by Punk #7804 set the previous day due to rising ETH prices.
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