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CryptoPunks Become Top NFT Collection, Christie’s NFT Expert Says He Will ‘Manage’ Project

CryptoPunks, one of the most popular collection of non-fungible tokens (NFTs), has become the top NFT project by volume over the past 24 hours amid news that Noah Davis, NFT expert of auction house Christie’s, will join Yuga Labs to lead CryptoPunks.

At 11 a.m. UTC on Monday, the collection had a trading volume of $6.64 million over the past 24 hours, according to DappRadar, the NFT’s data aggregator. We can compare that number with some other Yuga Labs projects: Otherdeed has a volume of 546,810 USD, and Bored Ape Yacht Club (BAYC) is 473,920 USD.

The market capitalization of CryptoPunks currently stands at $539.66 million, up more than 13% in the past day. Otherdeed increased 23% and BAYC 20%.

The floor price and average price of Punks also experienced a notable spike, up 25% and 30% respectively in the last 24 hours. To compare with the other two projects, the floor price and average price of Otherdeed increased by 37% and 15%, respectively, while the floor price of BAYC increased by 32% and 18%.

The heightened interest for CryptoPunks comes as Christie’s Noah Davis plans to join the project as “Brand Lead,” as he said in a Sunday tweet, assuring the community that they “WON’T be doing” anything “rushed” or “thoughtless” with the Punks.

As his first move instead, Davis said he would schedule a one-on-one talk with current Punk holders.

The first thing I WILL do is: if you’re a Punk holder and you care about the legacy/future of the brand, I’d like to give a 1:1 talk. I’ll be going to Punks Brunch during NFT NYC [Flowers] Ky] and will start scheduling sit-downs immediately. Wherever Punks go, the community will help guide us,” he said.

Meanwhile, the broader NFT market has also seen an increase in floor prices, trading volumes, market capitalization and the number of transactions over the past 24 hours amid the recent crypto bailout rally.