CryptoPunks NFT Prices Skyrocket Amid Gondi Loan Platform Controversy

CryptoPunks NFT Collection Hits All-Time High, Surpassing $200,000 Floor Price

CryptoPunks, the iconic Ethereum-based NFT collection, has reached a significant new milestone. The floor price for these digital collectibles soared past $200,000, marking the highest point for the project in 2025 so far. The surge in CryptoPunks prices reflects renewed investor interest and growing demand in the overall NFT marketplace.

As of July 29, the collection of 10,000 unique CryptoPunks—comprising 6,039 male and 3,840 female avatars—has outperformed other trending NFT projects such as Moonbird and Courtyard, taking the top spot for NFT sales volumes tracked by CryptoSlam.

Gondi NFT Lending Platform Faces Accusations Over Chandelier Bid Facilitation

However, the recent price rally has not come without controversy. The NFT lending platform Gondi finds itself under scrutiny following allegations from crypto traders and collectors. Some community members accuse Gondi of enabling so-called "chandelier bids" through private loans leveraging PUNKS tokens as collateral.

One prominent trader, Beanie—who is both a venture capitalist with GM Capital and a noted PUNKS collector—claimed on X (formerly Twitter) that Gondi created a private loan arrangement just before the auction for CryptoPunks #16. According to Beanie, this loan allowed Gfunk, a known Gondi advisor, to borrow significant amounts of Ethereum (ETH) using PUNKS tokens, including some that were staked in the PUNKS staking contract. The trader raised concerns that Gfunk borrowed against tokens that were not his own.

Beanie shared evidence showing a Gondi platform user vault repaying a debt of 194 ETH. The principal loan, issued a month earlier, matched this amount. He argued that the setup closely resembled past incidents on the Aave lending platform, where staked tokens were used as loan collateral, despite administrative controls supposedly being eliminated.

CryptoPunks NFTs Lead Sales As Liquidity Accelerates

During the past 24 hours, CryptoPunks NFTs have seen robust trading activity. According to CryptoSlam, 38 individual PUNKS were sold, reflecting a 375% spike in transaction volume. The sales amounted to an impressive $8.44 million, and the floor price surged by 4.6%—reaching approximately 53.85 ETH or $205,154 per CryptoPunk. This upward momentum in sales volume, which has increased over 370% since the previous day, puts CryptoPunks ahead of all other NFT collections by value and quantity sold.

Gondi, responding to increased community attention, highlighted a notable loan on its official social channel, involving Wrapped CryptoPunk #2545 as collateral for a $100,000 USDC loan. The Gondi team also reported issuing five Punk-based loans in a single day, indicating that "liquidity isn’t slowing down, it’s accelerating."

Ongoing Investigation and Market Outlook

As the floor price for CryptoPunks continues to climb, the NFT community is closely watching both market movements and ongoing allegations against Gondi and its advisors. While no official statements have yet been released addressing the claims, the situation underscores the evolving interplay between NFT lending platforms and traditional buying dynamics.

For blockchain and crypto enthusiasts, the CryptoPunks surge demonstrates how NFT markets can react quickly to both innovation and controversy, creating new opportunities—and risks—for investors and collectors alike.