Is CryptoKitties the Next Breakout NFT Collectible? Trading Volume Data Indicates so

By Palak Malhotra
Published September 3, 2021 Updated September 3, 2021
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Is CryptoKitties the Next Breakout NFT Collectible? Trading Volume Data Indicates so

By Palak Malhotra
Published September 3, 2021 Updated September 3, 2021

According to the recent trading volume data, CryptoKitties, the blockchain game on Ethereum to acquire NFT’s JPEGs, touched nearly $7 million in the last 24h. Chinese Journalist, Colin Wu reported on Twitter that CryptoKitties’ trading volume in just 24h has reached 1,783.59 ETH, i.e., $6,915,655. The trading volume rose since yesterday, September 2, from 1436.09 ETH, amounting to $5,588,017. Furthermore, this displays a conclusive average price of 6.6795 ETH, which amounts to 26,007.83 in USD.

CryptoKitties is on a consistent surge with the total number of monthly sales rising from 6831 on August 2, to 8440 on September 2, 2021, according to NonFungible.com

Image Source: NonFungible.com

The monthly USD spent on CryptoKitties in August was $338,840.96. However, September saw the surprising skyrocket results to $4,922,496.1.

Image Source: NonFungible.com

Monthly active market wallets on 2nd August were 2417, hiking up to 6042 on September 2, 2021.

Image Source: NonFungible.com 

CryptoKitties fall under the OG group of NFT projects. the virtual cats’ NFT is again bullish and rapidly gaining traction in the NFT sphere. Furthermore, unlike the ridiculously expensive Tokenized sphere, CryptoKitties has managed to stay fashionably affordable. The affordability feature is also furthering its reach and expanding the NFT community.

CryptoPunks NFT

While CryptoKitties has just begun to gain traction, its competition, CryptoPunks is becoming the market’s new obsession with ETH Whales’ support. As reported by CoinGape, in lieu of the recent Mania of Whales’ CryptoPunk purchase, the prices of these tiny, pixelated JPEGs shot by 53% over the last week.

Post the first investment of over $6 million by an Ethereum Whale into CryptoPunks last week, The market saw an exceptional buying spree for CryptoPunk. According to Etherscan data, last Friday saw the wallet scoop of over 100 NFTs, which in turn increased the average price of CryptoPunk NFTs from 24 ETH to 29 ETH.

ETH Rocks NFT

Last month, the NFT market broke when a JPEG photo of rock was sold for $1.3 million. These Rock tokens are known as ETH rocks, which were created in December 2017. However, the NFT community has gone insane, as the availability of these virtual rocks, is limited to 100. This has in turn led to a hike in the price floor to 730 ETH, i.e., close to $2.3 million dollars.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Palak Malhotra
432 Articles
Journalism & Mass Comm. ‘21 graduate, Palak is a GenZ journalist with background in Lifestyle journalism & PR. At CoinGape, Palak is a junior crypto journalist preparing for Web 3.0

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