CryptoPunks’ $7.8 million purchase launched a rally in the NFT market

The market of non-interchangeable tokens is experiencing a powerful short-term recovery. Over the day, the capitalization of the NFT-sector grew by 28%, exceeding $6 billion, and the volume of global sales amounted to $46 million – an increase of almost three times, according to data from CryptoSlam.

The rally was triggered by a major transaction on OpenSea: an unknown investor purchased 45 tokens from the CryptoPunks collection for more than 2,080 ETH – about $7.8 million. This caused the minimum price of Punks to rise to 47.7 ETH, up 16.5% from 24 hours earlier.

The situation is developing amid the strengthening of the underlying blockchains. Ethereum hit a yearly high of $3800 and Solana rose to $190, its highest level since February. This adds confidence to market participants who perceive NFT as derivative of activity in ecosystems.

According to LVRG Research, investors are returning to recognized collections, considering them undervalued amid a general bullish trend. Vincent Liu, chief investment officer at Kronos Research, sees the deal as confirmation of the sustainability of the premium NFT segment and signs of growing institutional interest.

Presto Research analyst Min Jung said demand is focused on older collections, while new designs remain out of focus. This indicates that confidence has been restored, but does not yet signal the start of a full-fledged “NFT season”.

Earlier, DappRadar reported that NFT trading volume declined 24% in the first quarter of 2025.