NFT Market Momentum Grow Sends CryptoPunks Above $200K

With growing attention on NFTs, the floor price of CryptoPunks has surged to 53.85 ETH, which is over $200K at current rates. Amid the rally, one trader purchased six tokens for over $1.3 mln. According to analysts, activity around Ethereum-based NFTs has picked up following the launch of the NFT Torch initiative.

CryptoPunks Back in the Spotlight

According to nfpricefloor, the floor price of CryptoPunks rose by 6,65% in the past 24 hours to 53.85 ETH (about $208K). During early hours of the Asian trading session, one buyer acquired six tokens worth more than $1.3 mln.

Just last week, another buyer snapped up 76 tokens for $13 mln. These major purchases coincided with Ethereum’s NFT Torch campaign, which marks a symbolic handover of digital legacy in the ecosystem and celebrates the network’s 10th anniversary.

Moonbirds Lose Value but Hold Momentum

Moonbirds also saw a wave of interest, though short-term speculators have started to lock in profits. The collection’s floor price dropped nearly 10% in the past 24 hours. However, over the past month, it has climbed more than 300%, fueling hopes for a broader comeback. Trader and analyst Sennin suggested that Moonbirds could lead a revival of the NFT sector.

Clone X Recovers After RTFKT Fallout

Clone X doubled its floor price over the weekend and gained another 14,26% in the last 24 hours. Previously, the collection had suffered a sharp decline after its developer RTFKT, a Nike subsidiary, was shut down. Now traders are speculating about a potential acquisition or team comeback. Researcher Wale.moca noted that hints of a possible deal are circulating online. Still, he urged caution, pointing to past allegations of insider trading involving Clone X.

Pudgy Penguins and the ETF Effect

Amid talk of renewed capital inflows into the “first wave” of NFT projects, Pudgy Penguins also gained some attention. The collection was recently in the spotlight due to rumors about an ETF tied to the PENGU token. However, analysts believe Moonbirds and CryptoPunks currently hold the bulk of investor focus.

GameSquare Case: NFT Added to Corporate Balance Sheet

Meanwhile, the market saw a high-profile transaction. GameSquare, a company working with Ethereum-based digital assets, acquired NFT Punk #5577 for $5.15 mln. The token, part of the Ape Punks subcategory and featuring a cowboy hat, was bought in exchange for preferred shares convertible into common stock at a price of $1.5 each. The purchase is part of a corporate strategy to invest in digital assets: the NFT will be held on the company’s balance sheet.

Skepticism Remains

Despite the surge in interest, some market participants remain cautious. Users on X pointed to the volatility of the market and its reliance on isolated triggers. For example, the CryptoBatz collection surged by 400% following the news of Ozzy Osbourne’s death. Investors are now questioning whether this is just another short-term speculative wave.

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