June 21, 2022 - 3 min read
This article analyzes the floor price of CryptoPunks on the 2022 ETH price high and lows to see how it's changed during the NFT market downtrend.
CryptoPunks is one of the dominant NFT brands with history on its side as the assets were released for free in 2017.
The project saw a meteoric rise in 2022 with an all-time high floor of 123.99 ETH.
However, the NFT market has taken a hit as of late and while many NFTs are feeling the pain, CryptoPunks has been the fastest growing in terms of sales volume over the past 7 days with 595% growth in sales volume.
@Punk9059 has put together some phenomenal daily floor price data for major NFT projects, and I borrowed some to look at how CryptoPunks has been faring during the latest downturn.
ETH hit a high price of $3,262 on 4/9 and the floor price of CryptoPunks was 66.01 ETH or $215,324.62.
However, when ETH dropped to a low of $998 on 6/18/22 the floor price of CryptoPunks was 49.95 ETH or $49,850:
From April 9th, 2022 to June 18th, 2022 ETH lost 69.4% of its value.
In this same time period, the floor of CryptoPunks dropped 24.3% in ETH terms and a whopping 76.8% in USD terms.
The floor quickly recovered and is back up to 67.9 ETH or $76,244.23, marking a 64.5% decrease since April 9th, 2022.
It’s not all doom and gloom — CryptoPunks has history on its side, and the floor is up from 20.6 ETH or $56,773.60 since April 29th, 2021.
OpenSea does not list a floor price for the CryptoPunks NFT collection, but that data can be found at larvalabs.com/cryptopunks with floor prices in ETH and US dollars, as well as 24-hour, 7-day, and lifetime sales volume.
CryptoPunks has $1.95 billion of lifetime sales volume as of June 20th, 2022.
The project has also done $3.37 million in 24-hour sales volume and $23.24 million in 7-day sales volume despite a downtrend in NFTs:
You can also find the top CryptoPunk holders here.
One wallet has 423 CryptoPunks!
The CryptoPunks floor price in both ETH and USD has taken a hit with the market downturn, but sales volume is still rolling in.
Some have said that they see this downturn as a buying opportunity while others are bracing for more impact.
We always advocate that you never spend money you can’t afford to lose and that you don’t interpret any of these articles as financial advice.
We will keep monitoring the CryptoPunks floor prices and sales volume over the coming months as it is truly our first look at the NFT project during a bear market.
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