Rare CryptoPunk NFT Defies Crypto Winter, Sells for 2,500 ETH

July 15, 2022, 10:15 AM AEST - 4 weeks ago

Reversing recent NFT market trends, CryptoPunk #4464 this week changed hands for a massive 2,500 ETH (approximately US$2.6 million). According to CryptoSlam, this marks the single-largest NFT sale of the past 30 days, in defiance of typical winter market lows:

CryptoPunk Does the Unexpected

Despite the malaise of the wider crypto market and commensurate NFT trading volumes, one rare CryptoPunk seems to have achieved the impossible. Punk #4464, an eye mask/durag-wearing, vaping pixelated character, has notched the fourth-ranked CryptoPunks NFT sale of all time, sharing that status with two other Apes. (It should be noted, however, that as ETH has a fluctuating price, the USD value of each sale fluctuates significantly.)

Transaction history of CryptoPunk #4464.

The record CryptoPunk sale for both ETH and USD is #5822, an 8,000 ETH (US$23.7 million) alien that was sold in February.

So Why Is #4464’s Sale Impressive?

Only two months ago, there was consensus that CryptoPunks (and NFTs in general) had lost the public interest. The realisation came as CryptoPunk #273, a male punk with a cap and shades, sold on May 8 for just US$139,836. That figure was 87 percent lower than its initial purchase price of US$1.03 million, in October 2021.

With a total value loss of approximately US$890,000, an ongoing downward trend in the CryptoPunk market seemed inevitable. However, #4464 has defied the odds and is proof to the contrary.

Disclaimer: The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.