Ethereum NFTs Take Lead in 2023 with CryptoPunks Holding 8% Market Cap

• Ethereum-based NFTs have seen the most activity since 2023 started, with CryptoPunks holding an 8.10% share of the total NFT market capitalization at press time.
• The overall stability in the general cryptocurrency market since the start of the 2023 trading year has led to renewed interest in profile picture NFTs (PFPs) and increased trading activity for the CryptoPunks NFT collection in the last 30 days, with sales volume within the period under review totaling $21.06 million.
• At press time, an NFT from the CryptoPunks collection was obtainable for 67.47 ETH, and CryptoPunks held on to an 8.10% share of the total market capitalization of $22.7 billion.

The start of the 2023 trading year has seen a surge in activity related to Non-Fungible Tokens (NFTs). This resurgence in interest is largely due to the general stability and growth of the cryptocurrency market since the start of the year, leading to renewed interest in profile picture NFTs (PFPs). Ethereum-based NFTs have seen the most activity since 2023 started, leading to an increase in sales volume and market capitalization.

CryptoPunks is one of the most popular NFT collections, and it has been leading the way in terms of market share since the beginning of the year. According to NFT analytics platform NFTGo, CryptoPunks‘ market capitalization stood at $1.71 billion at press time, which is a 14% increase from the previous month. This increase in market capitalization is largely due to the increase in trading activity for the CryptoPunks NFT collection in the last 30 days, with sales volume within the period under review totaling $21.06 million.

In terms of price, NFT Floor Price data showed that the floor price of CryptoPunks NFTs went up by 6% within the last month. This means that at press time, an NFT from the CryptoPunks collection was obtainable for 67.47 ETH. With a market capitalization of $1.71 billion, CryptoPunks held on to an 8.10% share of the total market capitalization of $22.7 billion. CryptoPunks was closely followed by Bored Ape Yacht Club [BAYC], which had a market capitalization of $1.51 billion at press time.

The data from CryptoSlam showed that 726,992 Ethereum [ETH]-based NFTs sales transactions were completed since the year started, with sales volume on the network totaling $289.47 million at press time. The highest daily sales volume on the network stood at $30.11 million on 6 January. This surge in sales volume is a testament to the increased interest in NFTs, especially those based on Ethereum.

In conclusion, Ethereum-based NFTs have seen the most activity since 2023 started, with CryptoPunks leading the way in terms of market capitalization. The overall stability in the general cryptocurrency market since the start of the 2023 trading year has led to renewed interest in profile picture NFTs (PFPs), and increased trading activity for the CryptoPunks NFT collection in the last 30 days, with sales volume within the period under review totaling $21.06 million. At press time, an NFT from the CryptoPunks collection was obtainable for 67.47 ETH, and CryptoPunks held on to an 8.10% share of the total market capitalization of $22.7 billion. This trend is likely to continue throughout the year and could lead to further growth in the NFT market.