Deep in the crypto winter, a CryptoPunks Ethereum NFT sells for $ 2.6 million

The crypto market has been down for months and NFT prices and trading volume has cratered as a result. But even in the middle of the so-called crypto winter (in summer), a desirable NFT may still require a multi-million dollar price tag, as we saw last night.

Late Tuesday, CryptoPunk # 4464 sold for 2500 ETH, or just over $ 2.6 million at the time of sale. This particular Ethereum NFT is one of only 24 monkeys in the entire collection of 10,000 profile pictures, and it has a pen, eye mask and a durag.

In terms of ETH prices, it is linked to two other monkeys for the fourth largest CryptoPunks NFT sales through the ages, per the official marketplace. However, given the fluctuating price of ETH, the USD value of each sale varied dramatically.

For example, when CryptoPunk # 4156 sold for 2500 ETH in December 2021-of 4156, a remarkable pseudonym collector and co-creator of Noun NFT project– The sale was valued at over 10.25 million dollars at that time. When CryptoPunk # 5577 sold for the same amount of ETH in February, it was valued at $ 7.7 million.

Only alien-style CryptoPunks have sold for more ETH than the monkeys. The record sales for a single CryptoPunk – both for ETH and USD – is CryptoPunk # 5822, an alien that sold for 8000 ETH in February, or $ 23.7 million at the time. It was acquired by Deepak Thapliyal, CEO of blockchain start-up chain.

CryptoPunk # 4464 var sold by pseudonym collector vapeape, also a co-founder of nouns. It is not immediately clear who bought the punk for $ 2.6 million, even though it is the same wallet has a total of 25 CryptoPunks and have spent 3600 ETH on them (currently $ 3.85 million) to date.

According to data from CryptoSlamit is the largest single NFT sale in the last 30 days, topping a few Bored Ape Yacht Club NFTs that sold for $ 1.2 million and just over $ 1 million, respectively.

An NFT is a blockchain token representing ownership of an item, including items such as profile pictures, artwork, collectibles, and video game items. The NFT market increased in 2021 to trading volume worth $ 25 billionwith around $ 20 billion added to that numbers so far in 2022. However, NFT has trading volume fell sharply since early May in the midst of the broader crypto market crash.

CryptoPunks is one of the most valuable and successful NFT projects in existence. The Ethereum project was launched in 2017 by Larva Labs and debuted as a free experiment, but has so far provided more than $ 2.3 billion in secondary trading volume amid growing demand.

Just Axie Infinity and Bored Ape Yacht Club have released larger all-time trading numbers per CryptoSlam. Yuga Labs, creator of Bored Apes, recently acquired CryptoPunks IP from Larva Labs and unlocked commercial rights for owners so owners can use their own images to create products and other projects – much like Bored Apes.

Do you want to become a crypto expert? Get the best from Decrypt right to your inbox.

Get the biggest crypto news + weekly summaries and more!