NFT CryptoPunk Is Rarely Listed For Less Than Half The Price Paid Four Months Ago

The current owner bought this CryptoPunk NFT for $23.7 million but now lists it for only $9.9 million.

The owner of CryptoPunk #5822, one of the nine “Alien Punks” in the collection, listed the NFT for only 9,000 ETH ($9.9 million), less than half the price paid four months ago.

The data from the CryptoPunk dashboard shows that the owner of NFT – Deepak Thapliyal chain CEO – offered it today. He bought it for 8,000 ETH on February 12, when 8,000 ETH was worth $23.7 million.

Thapliyal had stated at the time of purchase that he had taken advantage of the DeFi Compound protocol to be able to purchase NFT. Compound founder Robert Leshner even congratulated him on his acquisition of NFT. Thapliyal’s wallet is tagged as Deepak. ETH transferred Punk to another wallet a month after buying it.

Although the listing is 1,000 ETH higher than the purchase price, Thapliyal is likely to lose at the dollar rate if the trade is made.

Like the rest of the cryptocurrency market, Ether has seen a significant fall in prices throughout 2022. ETH has lost nearly 70% of its dollar value since the beginning of the year.

NFTs have also followed a broader market downturn, with the floor prices of even the most popular collections falling by nearly 33% in June. The floor price is the lowest list price of a product in the collection.

CryptoPunks, in particular, experienced a sharp devaluation, with the floor price of the collection up 50% between April and May. The decline has been somewhat reversed over the past few days amid announcements that CryptoPunks owner Yuga Labs has hired Noah Davis, head of Christie’s NFTs.

While Thapliyal could lose, the previous owner made $23.7 million from the NFT. The previous owner bought the NFT from the original minter in the summer of 2017 for 8 ETH ($1.646 at the time) and held it for nearly five years before selling it.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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