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.)
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.
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