The iconic NFT collection CryptoPunks appears to be making a comeback this year amidst the ongoing NFT bear market.
According to CoinGecko, the CryptoPunks collection currently leads the NFT market with a 30.9% share among the top collections, a position it solidified after surpassing Bored Ape Yacht Club (BAYC) in May 2023.
CryptoPunks Sees Resurgence But BAYC Loses Ground
At the beginning of 2022, CryptoPunks held a 24.8% share, trailing BAYC’s 29.3% lead. Though it briefly overtook BAYC in November 2022, CryptoPunks soon fell back to second but kept a close gap, finally reclaiming the top spot in May 2023 due to its more stable floor price. Between 2022 and today, its dominance ranged from a low of 14.0% in May 2022 to a peak of 36.6% in January 2024.
However, CryptoPunks achieved a rare feat by increasing its market share by 10% in a single year, growing from 23.6% to 33.6% in 2023. Despite a slight decline…
