CryptoPunks NFT collection records another big sale

The CryptoPunk Invincible Token (NFT), the rarest set in stock, has sold more than $16 million worth of Ether (ETH).

The latest sale is the second largest CryptoPunks transaction after a record purchase in February 2022.

Alien Punk NFT sold for 4,500 ETH

On Monday, March 4th, 2024, an anonymous buyer bought 4,500 ETH for CryptoPunk #3100, worth $16.03 million. The pixelated piece features blue leather and a bandana.

According to the CryptoPunks forum, the buyer initially made a bid of 4,250 ETH but declined on March 1st.

CryptoPunk #3100 is one of nine Alien Punks in the CryptoPunks collection, consisting of 10,000 pieces, making Alien Punks rare and very expensive.

In the year In February 2022, Deepak Thaplial, CEO of blockchain infrastructure company Chain, bought another Alien Punk, CryptoPunk #5822, for 8,000 ETH, worth nearly $24 million at the time of purchase. Piece is currently the top selling CryptoPunks.

There are two other Alien Punk NFTs currently selling for 5,000 ETH (valued at $17.97 million) and 5,500 ETH (valued at $19.7 million).

Will NFTs recover amid bull market euphoria?

In the year Created by Larva Labs in 2017, CryptoPunks is said to be one of the first NFT collections on the Ethereum blockchain. Bored Up Yacht Club (BAYC) creator Yuga Labs purchased the collection's intellectual property in March 2022.

According to NFT marketplace giant OpenSea, the transaction volume for all the coins was 1,223,620 ETH, which is $4.3 billion at the current ETH price.

However, it should be noted that since CryptoPunks have traded at different ETH prices over the years, this does not mean that the total value of all punks will reach $4.3 billion.

According to data from nftpricefloor.com, the floor price of a CryptoPunk NFT is approximately 57 ETH, with a 24-hour trading volume of 4,910.6 ETH ($17.6 million) and a market capitalization of 569,900 ETH ($2 billion), making it the largest NFT. round up.

Meanwhile, the big sell-off on X has some sections of the crypto community saying that NFTs may not be dead, while others say it's a further sign that the bull market is back.