CryptoPunks, an influential nonfungible token (NFT) collection, experienced a noteworthy transaction in March, as a rare alien piece fetched approximately $16 million in Ether. This significant sale occurred on March 20th, with CryptoPunk #7804 being acquired for 4,850 ETH, translating to roughly $16.4 million during the auction. This remarkable event marked the second-highest sale price ever for a CryptoPunk piece, following a similarly high-priced sale earlier in March.

The previous record was set by CryptoPunk #3100, which sold for 4,500 ETH on March 4th, equivalent to approximately $16 million, making it the third-largest CryptoPunk sale, trailing behind the recently auctioned #7804 piece. CryptoPunk #7804 stands out among the 10,000 NFTs in the collection due to its unique attributes.

The crypto character depicted in the NFT features a forward-facing cap, a trait represented in only 254 CryptoPunks. Additionally, it possesses a pipe shared by just 317 NFTs and small sunglasses worn by only 378 CryptoPunks. However, what distinguishes this digital asset is that it is one of only nine alien-themed CryptoPunks.

The initial buyer, Peruggia, purchased the CryptoPunk in March 2021 for 4,200 ETH, equivalent to $7.5 million at the time. He held onto the piece for about three years, rejecting offers of around $18 million in 2022.

This significant sale has led to a surge in the NFT collection's sales volume, surpassing other popular NFT collections like NodeMonkeys and Mad Lads in the weekly sales tally. According to the NFT data tracker CryptoSlam, CryptoPunks recorded sales totaling $21.5 million in just the last week. Simultaneously, high-profile NFT sales across several blockchains have contributed to a significant increase in NFT transaction volume.