Since the beginning of 2023, the stability of the cryptocurrency market has caused a renewed interest in non-exchangeable tokens (NFT) for profile images, with Ethereum-based collections proving particularly popular.
According to CryptoSlam statistics, 726,992 NFC transactions based on Ethereum have been conducted since January 1, and sales amounted to $ 289.47 million. Significantly, the highest daily sales amount of $30.11 million was achieved on January 6.
After a slight decline in market share in December 2022, CryptoPunks managed to regain their position with the largest capitalization in the NFT crypto ecosystem sector.
According to NFTGo, the market capitalization of CryptoPunks is $1.71 billion. This is 14% more than last month. Moreover, a 42% surge in cryptocurrency trading activity over the past 30 days resulted in a total of $21.06 million in sales over that period. Furthermore, thanks to a price increase of as much as 6%, an NFT from this collection can now be purchased for 67.47 ETH - according to NFT Floor Price - which is 8.10% of a total market capitalization of $22.7 billion across all projects in this industry; followed by Bored Ape Yacht Club (BAYC) at $1.68 billion and a share of 8.03%.
In early 2023, trading activity on NFT experienced an upturn, with buyers and sellers communicating through various exchange platforms. According to Dune Analytics, the number of NFT trades in January was higher than expected at 144,105 instead of 124,689. On OpenSea only, there were 128,450 transactions during that period.
At the beginning of the month, NFT transactions reached an estimated $471 million, resulting in a 7% increase in total market capitalization.