The blue-chip non-fungible token (NFT) collection CryptoPunks has been experiencing a hot streak, generating more than $211 million in sales in the last 30 days. Thanks to the collection being 'wrapped', CryptoPunk holders can now sell on popular marketplaces such as OpenSea and Blur. However, Blur has been the primary beneficiary, overtaking OpenSea by introducing an incentive plan that rewards traders with its native token, combining this with zero fees. This is a major motivating factor for current holders to unload their NFTs, with a number of CryptoPunks reaching over $100,000 in a single hour Tuesday.

CryptoPunks has managed to stamp up massive trading volume which completely outshines the Bored Ape Yacht Club collection which boasts $75 million in the same 30-day period. The beloved CryptoPunks have been around since 2017, and the extra liquidity granted by the wrapping of Ethereum tokens has allowed it to become a top-selling NFT. The Block research analyst Brad Kay commented that a number of their holders have started wrapping their punks lately.

Wrapping the CryptoPunks into Ethereum tokens has allowed added liquidity, making the NFTs user-friendly for a broad range of markets. Blur has been the preferred platform for many, not only because of the reward scheme, but also for the relatively low cost. High-value transactions on the platform continue to be made and the trend doesn't seem to be relenting anytime soon. This sudden surge in trading volume has called the attention from the crypto-community and, as people catch on to the advantages of buying wrapped NFTs, their popularity is likely to grow.



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