CryptoPunks NFT sells for US$2.6M amidst a general crypto bear season
The general crypto market has been stuck in a persisting bear season for the last couple of months. Its effect has also spilled over into the NFT markets, significantly dropping the value of several NFT collections. Despite this, certain NFTs still retain their premium price tags and are capable of making a splash in the markets.
On Tuesday, #4464 from the blue-chip CryptoPunks collection sold for 2,500 ETH, worth over US$ 2.6 million at the time. CryptoPunk #4464 is one of the 24 ape avatars in the 10,000 NFT collection and is decked out in a stylish mask, durag, and a vape pen.
Reports say the buyer is an NFT whale named 'zoomc,' who already has an impressive portfolio of 24 CryptoPunks and 113 Meebits.
The transaction also marks CryptoPunks' seventh most expensive sale of all time. However, if it is in terms of ETH value, #4464 shares the fourth most expensive CryptoPunks title with two others - CryptoPunks #4156 and #5577.
To explain further, CryptoPunks #4156 sold for 2,500 ETH in December 2021 and was worth over $10.25 million at the time. CryptoPunk #5577 sold for the same amount of ETH this past February, valued at US$ 7.7 million.
Based on reports from CryptoSlam, an NFT market data aggregator, the CryptoPunks #4464 sale is the biggest in the last 30 days, surpassing two Bored Ape Yacht Club (BAYC) NFTs that sold for US$1.2 million and just over US$ 1 million, respectively.
Along with BAYC, Cool Cats, and more, CryptoPunks is among the most popular and valuable NFT collections. It was one of the first few collections around when it debuted in 2017, and it is currently one of the most expensive NFTs on the secondary markets today.