Rare Cryptopunk NFT Defies Crypto Winter, Sold For 2,500 ETH
Categories: Crypto News US ETHERUM NEWS
Rare Cryptopunk NFT Defies Crypto Winter, Sold For 2,500 ETH
Reversing recent NFT market trends, Cryptopunk #4464 changed hands for a massive 2,500 ETH (approximately US$2.6 million) this week. According to Cryptoslam, this is the single biggest NFT sell-off in the past 30 days, disregarding the normal winter market lows. Cryptopunk does the unexpected Despite the malaise of the broader crypto market and consistent with NFT trading volumes, a rare cryptopunk has achieved the impossible.
Punk #4464, an eye mask/drug-wearing, vaping pixelated character, recorded the fourth-ranked Cryptopunks NFT sale ever, sharing that position with two other apes. (However, it should be noted that since the price of ETH fluctuates, the USD value of each sale fluctuates significantly.) Only two months ago, the general consensus was that cryptopunks (and cryptocurrencies in general) NFT) had lost public interest.
Cryptopunk #273, realized as a male punk with hat and shades, sold for only US$139,836 on May 8. This figure was 87 per cent lower than its initial purchase price of US$1.03 million in October 2021. A continuing downward trend in the cryptopunk market seemed inevitable, with losses totaling around US$890,000. However, #4464 has defied the odds and there is evidence to the contrary.