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<p>The non-fungible token market has recorded positive growth today after a crypto investor bought a cryptopunk NFT collection for more than $1.5 million. The mega sales have increased the global non-fungible token market by 14% from the previous day.</p> 
<h2 id="punk-5363-nft-sells-for-1-5m">Punk #5363 NFT Sells For $1.5M</h2> 
<p>Data recorded by <a href="https://www.cryptoslam.io/">Cryptoslam.io</a>, an on-chain data aggregator, confirms that CryptoPunks #5363 NFT collection has sold on the secondary market. The gigantic sale has left the global NFT market soaring, navigating the recent short NFT market downtrend.</p> 
<p><img decoding="async" class="alignnone wp-image-477090" src="https://insidebitcoins.com/wp-content/uploads/2024/02/cryptopunk-300x91.png" alt="cryptopunks" width="841" height="255" srcset="https://insidebitcoins.com/wp-content/uploads/2024/02/cryptopunk-300x91.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/02/cryptopunk-768x234.png 768w, https://insidebitcoins.com/wp-content/uploads/2024/02/cryptopunk.png 922w" sizes="(max-width: 841px) 100vw, 841px"></p> 
<p>Launched in June 2017, CryptoPunks is a non-fungible token collection previously from the digital asset incubation studio Larva Labs but now owned by Bored Ape Yacht Clun creator Yuga Labs. CryptoPunks, an NFT collection with a limited supply of just 10,000 pixilated NFT hosted on the Ethereum blockchain network, is now one of the most successful NFT projects.</p> 
<p>Based on sources familiar with the matter, the anonymous buyer possibly accidentally placed a 655 ETH bid on Punk #5363 instead of 65.5 ETH, and the previous owner just gladly accepted. The bid could have happened because the bidder conveniently had a balance of almost 655 ETH.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">A bidder accidentally* placed a 655E bid on this punk instead of 65.5E.</p> 
 <p>Owner just gladly accepted. <a href="https://t.co/QbCigmcfa1">pic.twitter.com/QbCigmcfa1</a></p> 
 <p>— quit (👀,🦄) (@0xQuit) <a href="https://twitter.com/0xQuit/status/1752768351238291587?ref_src=twsrc%5Etfw">January 31, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>Nonetheless, there are still speculations that the incident might be a wash trade. By description, wash trading is a form of market manipulation where crypto investors simultaneously sell and buy the same NFT collections, creating a false impression of NFT market activity.</p> 
<h2 id="the-nft-market-health-check">The NFT Market Health Check</h2> 
<p>The non-fungible token market looks bullish today following the recent gigantic punk sales. In the past 24 hours, the global NFT market has amassed a trading sales volume of $34 million, representing a 14% spike from the previous day. The number of NFT investors buying NFTs has also increased slightly after the punk sale.</p> 
<p><img decoding="async" class="alignnone wp-image-477092" src="https://insidebitcoins.com/wp-content/uploads/2024/02/NFT-sales-300x89.png" alt="NFT sales" width="836" height="248" srcset="https://insidebitcoins.com/wp-content/uploads/2024/02/NFT-sales-300x89.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/02/NFT-sales-1024x303.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/02/NFT-sales-768x227.png 768w, https://insidebitcoins.com/wp-content/uploads/2024/02/NFT-sales.png 1130w" sizes="(max-width: 836px) 100vw, 836px"></p> 
<p>source: Cryptoslam.io, global NFT sales in the past 24 hrs</p> 
<p>Ethereum, the popular blockchain network for NFTs, is the top most-traded blockchain network in the NFT ecosystem, amassing a trading sales volume of $13.9 million. Ethereum-based NFTs, led by CryptoPunks, have pushed Ethereum trading sales volume up 40% in the past 24 hours.</p> 
<p><img decoding="async" class="alignnone wp-image-477091" src="https://insidebitcoins.com/wp-content/uploads/2024/02/Ethereum-NFTs-300x88.png" alt="Ethereum NFTs" width="839" height="246" srcset="https://insidebitcoins.com/wp-content/uploads/2024/02/Ethereum-NFTs-300x88.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/02/Ethereum-NFTs.png 683w" sizes="(max-width: 839px) 100vw, 839px"></p> 
<p>Source: cryptoslam.io, Ethereum NFT trading activity</p> 
<h3 id="related-nft-news">Related NFT News:</h3> 
<ul> 
 <li><a href="https://insidebitcoins.com/news/doodles-joins-luxury-watch-brand-g-shock-to-launch-nft-inspired-watches">Doodles Joins Luxury Watch Brand G-Shock To Launch NFT-Inspired Watches</a></li> 
 <li><a href="https://insidebitcoins.com/news/nfts-remain-resilient-amid-the-short-bear-market-heres-the-10-top-selling-nfts-this-week">NFTs Remain Resilient Amid The Short Bear Market – Here’s The 10 Top Selling NFTs This Week</a></li> 
 <li><a href="https://insidebitcoins.com/news/nft-sales-fall-36-in-january-2024-will-this-coming-february-bring-back-an-upturn">NFT Sales Fall 36% In January 2024 – Will This Coming February Bring Back An Upturn?</a></li> 
</ul> 
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An NFT Investor Has Bought A Punk For $1.5M – Was It By Accident Or Deliberate?

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