The block trades from the CryptoPunk are important factors for the surge in trading volume in the NFT market based on Ethereum
According to data from OKchain Labs, the NFT trading volume on Ethereum in the last 7 days reached $171M, an increase of 338% from the previous month. The average daily price per NFT increased rapidly from about $2,634 on Jul 28 to more than $31,142 on Aug 1. Block trades from CryptoPunks are an important reason for the increase in the average price: within 24 hours, the trading volume of CyrptoPunks exceeded $36.31 M, and its average price per NFT rose to more than $113,382, which is close to 3 BTC (according to the market average price on Aug 2).
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