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CryptoPunks Trading Reaches New Heights: Impact of GameSquare Investments

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by Giorgi Kostiuk

12 hours ago

Recently, the NFT collection CryptoPunks recorded a trading volume of $24.6 million, marking the highest level since March 2024.

GameSquare's Investment in CryptoPunks

GameSquare acquired Punk #5577 for $5.15 million, boosting demand for the collection. This move is a significant step for institutional investors as GameSquare positions NFTs as income-generating assets.

Historical Price and Volume Increases

CryptoPunks' trading volume reached $24.6 million, signaling a 416% increase compared to the previous week. The average sale price rose from $140,000 to $182,000.

Future of NFTs and Institutional Interests

The growing interest in NFTs from institutional investors indicates a potentially sustainable position for NFTs in diversified investment portfolios.

The recent spike in CryptoPunks' trading volume highlights the increasing interest in NFTs as serious financial assets and the potential for attracting more institutional players in this space.

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