In the latest NFT news, a special CryptoPunk NFT known as Punk #635 has been sold for a whopping $12.5 million. This makes it one of the most expensive Punks ever sold. Punk #635 is part of the rare "Alien Punks" group within the larger collection of 10,000 CryptoPunks.

This sale is the third time in the past two months that an "Alien Punk" has exceeded the $10 million mark in sales. Other notable transactions include Punk #3100 selling for $16.03 million and Punk #7804 for $16.42 million.

Despite these impressive sales figures, Punk #635 didn't break the record for the priciest CryptoPunk or NFT ever sold. That title still belongs to Punk #5822, which fetched nearly $24 million in 2022. The highest-priced NFT overall is still Beeple’s artwork, which sold for $69.3 million in 2021.

The sale of Punk #635 underscores the enduring appeal and value of CryptoPunks in the NFT market. While other collections like Bored Ape Yacht Club have seen drops in value, CryptoPunks remain highly desirable among collectors.

With a shift in collector preferences, rare and established collections like CryptoPunks are gaining more attention and maintaining their value. This trend is evident as total daily trading volumes for NFTs have decreased significantly from their peak in April 2022.

In conclusion, the sale of Punk #635 highlights the ongoing dominance of CryptoPunks in the NFT space, despite shifts in market dynamics.