CryptoPunks

The Cryptopunks are one of the earliest examples of a "Non-Fungible Token" on Ethereum, and were inspiration for the ERC-721 standard that powers most digital art and collectibles.

The CryptoPunks are 10,000 uniquely generated characters. No two are exactly alike, and each one of them can be officially owned by a single person on the Ethereum blockchain. Originally, they could be claimed for free by anybody with an Ethereum wallet, but all 10,000 were quickly claimed. Now they must be purchased from someone via the marketplace that's also embedded in the blockchain. Via this market you can buy, bid on, and offer punks for sale.

Analysis Methodology

We've used FlipSideCrypto's curated datasets to find the most profitable CryptoPunks traders. However, since the CryptoPunks smart contract was used in many transactions and the information of all transactions was not fully available in the NFT sales tables, we first tried to extract the needed data from the Ethereum base tables ourselves. The transaction table, which is the main Ethereum database table in FlipSideCrypto, contains basic information and all the logs of a transaction.

However, extracting all of CryptoPunks' transactions and trades using base tables took a lot of time, so only a part that includes the majority of transactions was done, and the existing tables were used for the rest of the transactions. Because of this, the results of this dashboard are slightly different from those found on the official CryptoPunks buying and selling pages

Key Findings

• As can be seen from the first charts, the trading volume and price of NFTs show a big growth from the beginning of 2021, and before that the selling volume of CryptoPunks is very small compared to the last two years.

• The average price of CryptoPunk's NFTs is only 3 Ether in 2020, while it reached about 50 Ether the following year and about 80 Ether this year(2022).

  Taking into account all sales, the average price of a CryptoPunk is around 40 Ethereum.

• The volume of purchases and sales of CryptoPunks has reached about one million Ethereum in recent years, which shows the great popularity of this collection.

• The most expensive NFT of this set was sold for 8000 Ethereum.

Most Profitable Traders

To find the most profitable CryptoPunks traders, we determined the profit per transaction by subtracting the sale price from the purchase price for each sale transaction, and then we determined the amount of this profit for each buyer separately, and ten users, the best of which we have shown in the table below. We also checked how many purchases each of these ten profitable users made to reach this profit.

CryptoPunks at a Glance

To get a better overview of this popular and relatively expensive NFT collection, we will first look at the general statistics of trades, as well as the volume of sales of CryptoPunks in recent years. The following charts will attempt to provide this overview.

Takeaway

• The profit made by the top ten traders of CryptoPunks is about 50,000 Ethereum, which is estimated to be about a hundred million dollars at a price of $2,000 for Ethereum, which is a very big number. It shows that this collection was able to give a great profits for its professional traders.
• The second graph, which shows the number of transactions of successful people, tells us well that these people are professional traders of this NFT collection and on average they have made more than 50 transactions, so they could make a very good profit with it.