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The minimum price of the NFT CryptoPunks collection fell below $100,000 on Wednesday as the NFT market continues to fall. The minimum price represents the price of the cheapest item in the collection and reflects market demand.
The CryptoPunks NFT collection, launched by Larva Labs in 2017, had a minimum price of 47 ETH ($91,673) at the time of writing, according to The Block dashboard. As a result, the minimum price of the collection has decreased by more than 50% in dollar terms over the past month. Earlier on April 25, it cost at least $ 186,442.
In addition, NFT trading volumes began to decline, falling from $ 8.28 million for the week that began on May 9, to $ 7.45 million next week. This week, trading volume was $2.75 million.
Minimum NFT prices fell across the board in line with cryptocurrencies during May. Prices in the digital asset space have come under pressure as bitcoin (BTC) trades below $30,000 and ether (ETH) below $2,000, exacerbated by the collapse of the Terra (LUNNA) ecosystem, two weeks ago.
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