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crypto.news 2025-04-11 05:46:54

Rare CryptoPunk NFT sells for $6M with seller absorbing a $10M loss amid NFT price slump

Rare CryptoPunk NFT sells for $6M with seller absorbing a $10M loss amid NFT price slump

A rare CryptoPunk NFT just sold for $6 million at a staggering $10 million loss amid the continued slide in NFT prices. CryptoPunk #3100, one of just nine Alien Punks in the original 10,000-piece collection, was sold for 4,000 Ethereum ( ETH ), worth about $6.07 million at the time of sale, according to an Apr. 10 transaction flagged by Arkham on X. The art brokerage firm Fountain reportedly brokered the sale, which was finalized through a private offer on the CryptoPunks marketplace. NFT TRADER DOWN $10M ON CRYPTOPUNK This NFT Trader bought an Alien Cryptopunk 1 year ago for 4.5K ETH ($16M). He just sold it for 4K ETH ($6M). He just locked in a $10M loss. Address: 0x70587661c804c72BBa25EcddD8d17B332C984017 pic.twitter.com/765PHvUzob — Arkham (@arkham) April 10, 2025 When the NFT was first bought by the anonymous seller in Mar. 2024, it was the third-largest CryptoPunk transaction at the time, costing 4,500 ETH, or about $16 million. But with Ethereum’s price down roughly 56% over the past year, the seller’s 500 ETH loss turned into a net $10 million hit in dollar terms. You might also like: NFT sales recover 4.5% to $102.8m, CryptoPunks sales surge 140% CryptoPunk #3100 is now listed three times in the all-time top sales leaderboard for CryptoPunks, having previously sold for $7.58 million and $16.03 million. Despite CryptoPunks remaining the top-tier profile picture NFT collection, its financial performance has taken a hit. The collection’s floor price has dropped 67% from its all-time high of 125 ETH set in 2021, now averaging 42.5 ETH, as per CoinGecko data . At that time, ETH was trading at around $3,500, placing the floor price above $400,000 compared to just $65,900 at press time. As NFTs’ popularity and asset prices continue to fall , the industry has been facing significant pressure. In Q1 2025, NFT trading volume fell to $1.5 billion, a 24% decrease from Q4 2024, according to DappRadar’s Q1 report . Despite only a slight drop in trading activity, the steep drop in volume indicates fewer high-value transactions rather than a decline in users. CryptoPunks still commands a sizable share of the market, making up 23% of the $2.7 billion global NFT market capitalization. Read more: U.S. SEC ends probe into Bored Apes NFTs creator Yuga Labs

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