With bitcoin edging towards its peak, remarkable NFT transactions are resurfacing. A CryptoPunk recently exchanged hands for 4,500 ether, equivalent to over $16 million presently.
This sale marks the second highest ever recorded for the esteemed NFT collection, trailing only a $23.7 million purchase made in February 2022.
Originally acquired for $2,127 in 2017, CryptoPunk 3100 surged in value, fetching a staggering $7.58 million in 2021 before its recent mammoth sale.
Among the 10,000 unique CryptoPunks, each characterized by randomly generated attributes, Punk 3100 stands out as one of the nine “alien” punks, distinguished by their blueish skin. This rarity has propelled alien punks to the pinnacle of CryptoPunk desirability.
Two other alien punks are currently listed for sale at jaw-dropping prices of $17.8 million and $19.6 million respectively.
Initially minted in 2017 by Larva Labs, the intellectual property of CryptoPunks was later acquired by Yuga Labs, the developers behind the Bored Apes NFT collection, in 2022.
Many members of the crypto community interpreted the purchase of CryptoPunk 3100 as a harbinger of the resurgence of the “bull market.”
At present, the NFT collection boasts a trading volume surpassing $17.16 million and a market capitalization exceeding $2 billion, solidifying its status as the foremost NFT collection in the market.
Other prominent NFT collections, such as Bored Ape Yacht Club and Pudgy Penguins, command market caps of 192,500 ETH ($683 million) and 143,097 ETH ($507 million) respectively.
Although CryptoPunk 3100’s sale fetches an impressive sum, it falls short of the most expensive NFT sale to date. During the NFT frenzy between 2021 and 2022, an NFT artwork titled “the Merge” by Pak commanded a staggering $91.8 million, etching its place among the priciest NFT transactions ever recorded.
