CrypToadz have even surpassed CryptoPunks in the NFT marketplace's 24-hour rankings.
OpenSea’s daily trading volumes have surged to their highest level in over a month — and all might be down to an obscure new NFT collection.
Sales on the world’s biggest NFT marketplace hit $157 million on Monday, according to data from Dune Analytics.
Trading volumes haven’t been this high since Sept. 3, when ETH worth $169 million changed hands on the bustling platform.
The bounce back in demand is being linked to a new NFT collection called CrypToadz — which, as you’d expect, takes inspiration from other successful launches including CryptoPunks and Bored Ape Yacht Club.
A total of 6,969 CrypToadz were sold at launch, with each commanding a price of 0.69 ETH as a result.
But data from OpenSea reveals that this collection currently has a floor price of 14.15 ETH — up 1,950%. And, at the time of writing, the cheapest CrypToadz on the marketplace have a top bid of 7.2913 ETH.
Over the past 24 hours, CrypToadz has also topped OpenSea’s rankings, attracting higher sales than CryptoPunks.
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In other developments, new data from DappRadar powerfully shows the explosive growth that the world of non-fungible tokens had in the third quarter of 2021.
Sales volumes surged to $10.7 billion in the period covering July to September — a stark contrast to the $1.3 billion seen between April and June.
NonFungible.com has also been crunching the numbers. And while most of Crypto Twitter’s attention tend to center on NFTs worth millions of dollars, its research suggests that 58.5% of the collectibles sold were priced between $101 and $1,000.