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Investor Loses with the Legend of the Era in Ethereum: The Loss is Jaw-Dropping! - Coin Bulletin
Once a favorite among NFT collections, CryptoPunk 3100 was sold for 6 million dollars, which is 10 million dollars lower than the price it was bought for about a year ago.
According to CryptoSlam data, the **NFT, which was sold with only a small depreciation on the basis of Ethereum (ETH)****, brought with it a huge loss in ** dollar terms. CryptoPunk 3100 bought for 4,500 ETH in March last year changed hands for 4,000 ETH this Thursday. However, due to the sharp decline in the price of Ethereum, the loss in dollar terms amounted to 10 million dollars. When the NFT was sold last year, it was valued at over $16 million, making it the third-highest NFT sale in history.
The long-standing downward trend in the NFT market has severely impacted popular collections like CryptoPunks. Although the trading volumes of high-profile NFTs such as Bored Ape Yacht Club, Azuki, and Pudgy Penguins have been declining since 2022, trading activity has particularly worsened in recent weeks.
Yuga Labs, which acquired the rights to the CryptoPunks collection in 2022, announced that it would no longer touch this collection due to community reactions following the launch of a new Punk side project last year. After these developments, the collection's popularity in the market has significantly declined.