- Known Origin #30101 led sales at $410K, paid entirely in USDC.
- CryptoPunks made up 6 of the top 10 NFT sales, with prices ranging from $132K to $274K.
- Both ETH and USDC were key settlement methods in this week’s top NFT transactions.
The non-fungible token (NFT) market saw renewed activity over the past week, with high-value sales concentrated in legacy and derivative collections. Known Origin and CryptoPunks led the rankings, with multiple six-figure transactions recorded between May 4 and May 10. The data points to increased buyer engagement, especially in collectibles tied to long-established projects priced using stable assets.
Known Origin #30101 emerged as the most expensive NFT sale of the week. The digital collectible was sold for $410,532.56 in a USDC transaction. Using a stablecoin for such a high-value sale reflected the continued trust in dollar-pegged assets for premium digital purchases. The transaction marked the highest individual NFT sale by price during the reporting period.
Six CryptoPunks Among Top Ten NFT Sales
CryptoPunks remained at the top, owning six of the top ten most valuable sales. The best-seller, Punk, #7261, made a record-breaking 150 ETH sale of $274,119.22. The transaction also confirmed the collection as a pioneer constant investor and a hot investment in the universe of NFTs.
Other notable CryptoPunks trades included #5767 at $155,383.23 and #2509 at $138,171.48. The purchase of #2509 was completed using 69.96 ETH, suggesting a steady return to Ethereum-based transactions after prior slowdowns.
Moreover, two of the most interesting NFT projects, CryptoPunks #5273 and #8306, were acquired in sales for $137,800.06. The exact prices implied that the collection elements are similarly valued in the market, not only by their rarity but also because of shared traits.
Along with the top results, CryptoPunks #7746 and #9686, sold for $137,467.77 and $132,831.81 respectively. The uniformity of pricing from these six sales represents the stable valuations experienced in CryptoPunks with moderate rarity that suggest a restricted valuation profile.
Identical Mutant Ape Sales Reflect Trait-Based Pricing
Two items from the Mutant Ape Yacht Club, #30001 and #30003, also entered the top ten, with both NFTs selling for $194,815.05. The settlement for every sale took place in USDC, and this is another time stablecoins have been widely accepted in high-end NFT transactions.
The amazing success of Mutant Apes points to the continued interest in derivative projects, whose fans are huge NFT communities such as Bored Ape Yacht Club. Although not exact members of the initial series, each one still exists with a high level of demand, largely due to familiarity and instant recognizability.
This week’s activities showed substantial dependence on Ethereum and USDC as the main payment tools. Despite a high prevalence of Ethereum within CryptoPunks sales, the Former Origin and Mutant Ape were settled mainly in USDC. Using volatile and stable assets in NFT acquisition discusses how collectors trade off risk with stability in large-scale transactions.
