Whale buys 45 CryptoPunks in 2 minutes as NFT market cap hits $6B milestone

The crypto market displays magnified optimism as the altcoin narrative gains steam amid regulatory shifts in the US . Ethereum is outperforming Bitcoin, and different sectors within the digital asset sector are catching up. The non-fungible tokens (NFTs) sector experienced a jaw-dropping development as a recognised large-scale crypto investor, wallet 0x1b…72D6, went on a purchasing spree, accumulating 45 CryptoPunks in under two minutes. OpenSea data shows the whale spent 2,081.6 ETH coins through Reservoir to complete the purchase. DEGEN NEWS @DegenerateNews · Follow NEW: SOMEONE SWEPT 45 CRYPTO PUNKS 3:20 am · 21 Jul 2025 1 Reply Copy link Read more on Twitter Meanwhile, the transaction grabbed the attention of the NFT and crypto community. Besides the size and speed, the purchase’s timing has raised eyebrows. It comes as the non-fungible tokens sector shows signs of life after a prolonged winter, which saw multiple firms reducing their workforce . According to Coingecko, the NFT market cap has crossed $6 billion after a nearly 20% increase in the past 24 hours. Also, the overall sales volume has increased by a staggering 195%, indicating renewed interest in digital art. CryptoPunks floor price up 15% The bold move had an immediate effect. CryptoPunks’ floor price soared over 15% following the transaction. That signals rekindled demand and excitement in NFTs. It now boasts an over $176,000 (47.50 ETH) floor price, reflecting impressive growth from 36.90 ETH on July 5, 2025. Source – NFTPRICEFLOOR Larva Labs launched CryptoPunks in 2017, and most participants consider them the Bitcoin of NFTs, often acting as a proxy for sentiments around non-fungible tokens. There are only 10K distinct CryptoPunks characters in existence. The scarcity has made these pixel arts prized collectables for celebrities, tech-savvy individuals, and crypto-native investors. The latest purchase by a large-scale investor confirms CryptoPunks’s financial and enduring cultural value despite the highs and lows NFTs have seen since the 2021/2022 boom. NFT market cap surpasses $6 billion The whale’s shopping spree shifted attention to the entire NFT space, which is buzzing with another key milestone. Coingecko data shows the total market cap of NFTs has crossed $6 billion after gaining more than 18% in the past 24 hours. Furthermore, the sector’s trading volume experienced a robust 195% increase over the past day, reaching $31.14 million. Source – Coingecko These figures reflect staggering activities in the non-fungible tokens industry, hinting at imminent recoveries. The resurgence highlights a possible new wave of enthusiasts and money flowing into the space. Top collectables like Pudgy Penguins, Bored Ape Yacht Club, and Moonbirds have recovered in the previous week, gaining 6%, 3%, and 196%, respectively. The NFT marketplace is regaining strength, and large-scale transactions could encourage other whales and retail buyers to join the bandwagon. Proponents trust this might be the start of a bull run in the NFT market, especially as digital assets exhibit bullish price structures. Indicators such as declining Bitcoin dominance, Ethereum’s current outperformance, and the ASI (Altcoin Season Index) suggest a materialising altcoin season. The post Whale buys 45 CryptoPunks in 2 minutes as NFT market cap hits $6B milestone appeared first on Invezz

Source: Invezz