Skip to content
- A CryptoPunk NFT sold for 4,000 ETH, locking in a $10M loss—the largest NFT sale in the last 30 days.
- NFT trading volume on Ethereum fell over 53%, while CryptoPunk floor prices dropped more than 61% from their peak.
- Pudgy Penguins defied the downturn, reaching 25 ETH and topping $72M in Q1 2025 sales volume.
The CryptoPunk market suffered another blow this week after one of these contemporary masters shot down at a loss. A large holder or a whale sold the NFT for 4,000 ETH, equivalent to over $6 million at the time of trading. Although, the same asset was bought at the cost of 4,500 ETH, or $15.7 million in ETH, only a year before.
According to the details shared by blockchain analytics firm Lookonchain, the transaction originated from a bitcoin whale. The buyer remains unidentified while the sale involved a CryptoPunk from one of the earliest and now highly valued NFT categories. Crypto punks’ popularity can be considered among the first generation NFTs and they are thought of as ‘blue chip’ in the world of digital collectibles.
According to CryptoSlam, it is the largest NFT sale in the last 30 days. The size of the deal shows that even distressed sales can captivate a market mostly characterized by slow activity.
Source: CryptoSlam
NFT Trading Volume Drops
The market has slowed down in the last couple of months as demand for Non-Fungible Tokens decreases. In particular, the trading volume of Ethereum-based NFTs has plummeted to 53.71% in the last month. Others such as Polygon, another popular store for NFTs also experienced a decline with a trading volume of 41% down within the same time period.
Floor prices also reflect a certain picture of once high-end collections these days. The CryptoPunks now have a floor of, relatively, 43 ETH, or roughly $68,000, and they have declined by more than 61% since their peak of 113.9 ETH last October. The price of Bored Ape Yacht Club has plummeted by 89%, and Mutant Ape Yacht Club by as much as 93%.
Source: NFTpricefloor
Pudgy Penguins Defy Trend
Nevertheless, it is important to understand that there are always exceptions to the identified economic models in the market. However, the Pudgy Penguins collection has risen above the trend, having reached over 25 ETH in December of 2024. This also contributed to its domination of the sales volume by Q1 2025, with over $72 million in sales.
Another factor that might suggest that its level is falling is macro influences, such as regulatory pressure, which seem to be decreasing. Yuga Labs was under investigation by the United States Securities and Exchange Commission in a case that began in early March 2025 and lasted for three years.
