{"id":127056,"date":"2025-04-12T12:22:03","date_gmt":"2025-04-12T12:22:03","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=127056"},"modified":"2025-04-12T12:22:03","modified_gmt":"2025-04-12T12:22:03","slug":"nft-trader-sells-cryptopunk-after-a-year-for-nearly-10m-loss","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=127056","title":{"rendered":"NFT trader sells CryptoPunk after a year for nearly $10M loss"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsAn investor has sold a CryptoPunk non-fungible token (NFT) at a nearly $10 million realized loss, reflecting the continued decline in the once-booming blue-chip NFT market.<br \/>\nA whale, or large cryptocurrency investor, sold a CryptoPunk NFT for 4,000 Ether (ETH) worth more than $6 million at the time of writing.<br \/>\nThe investor originally purchased the NFT for 4,500 ETH, or roughly $15.7 million, a year ago, according to blockchain analytics firm Lookonchain.<br \/>\n\u201cDid he only lose 500 $ETH($774K)? No\u2014he actually lost $9.73M!\u201d Lookonchain wrote in an X post. \u201cWhen he bought it, $ETH was trading at $3,509. By the time he sold, $ETH had dropped 57%,\u201d the platform added.<br \/>\nCryptoPunk buy and sell. Source: Arkham Intelligence \/ LookonchainDespite the steep loss, the $6 million transaction still ranks as the largest NFT sale over the past 30 days, according to data from CryptoSlam.<br \/>\nTop NFT sales past 30 days. Source: CryptoSlamThe sale comes during a period of stagnation for NFTs, which have been lacking wider trader interest. NFT trading volume on Ethereum is down more than 53% over the past month, while Polygon\u2019s NFT trading volume fell 41%.<br \/>\nCryptoPunks saw a temporary floor price surge of 13% after rumors that its owner, Yuga Labs, might be \u201cin the process\u201d of selling the collection\u2019s intellectual property, Cointelegraph reported on Jan. 14.<br \/>\nRelated: Sentient completes record 650K NFT mint for decentralized \u2018loyal\u2019 AI model<br \/>\nBlue-chip collections see steep drop<br \/>\nThe top blue-chip NFT collections remain significantly down from their 2021 highs amid a lack of trading activity.<br \/>\nCryptoPunks currently have a floor price of about 43 ETH, or $68,000, down more than 61% from their record high of 113.9 ETH in October 2021.<br \/>\nCryptoPunks NFT floor price, all-time chart. Source: NFTpricefloor\u00a0The Bored Ape Yacht Club\u2019s floor price is also down 89%, while the Mutant Ape Yacht Club collection is down 93%, NFTpricefloor data shows.<br \/>\nRelated: Trump family memecoins may trigger increased SEC scrutiny on crypto<br \/>\nHowever, the Pudgy Penguin collection remains an outlier. It reached a new all-time high of over 25 Ether on Dec. 16, 2024, and amassed the highest sales volume of over $72 million in the first quarter of 2025, Cointelegraph reported on March 28.<br \/>\nSource: Yuga Labs\u00a0At the start of March, the US Securities and Exchange Commission closed its three-year investigation into Yuga Labs, an investigation initiated under former Chair Gary Gensler, which aimed to probe NFT creators and marketplaces, to see if some NFTs, such as fractional NFTs, were securities.<br \/>\nMagazine: Memecoin degeneracy is funding groundbreaking anti-aging research<a href=\"https:\/\/cointelegraph.com\/news\/whale-sells-6m-crypto-punk-9-7-m-loss-year-hodling?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsAn investor has sold a CryptoPunk non-fungible token (NFT) at a nearly $10 million realized loss, reflecting the continued decline in the once-booming blue-chip NFT market. A whale,&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127056"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127056"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127056\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127056"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}