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A CryptoPunk from the Ape Punk collection sold for roughly $1.5 million as the broader non-fungible token market continued to struggle amid waning demand.
According to CryptoPunks Bot, CryptoPunk 6915, one of 24 rare Ape Punks, was acquired for 620 eth (around $1.48 million) by an anonymous collector identified as “0x8bbccd.” The nft is one of 24 other Ape Punks issued on the ethereum blockchain by Larva Labs.
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Data According to Cryptoslam, Punk 6195 was initially purchased for just 3.5 eth ($2,455) in late December 2017. The recent transaction represents a gain of 59,390.10%. The seller, identified as “0xe38ee2,” also sold CryptoPunk 9479 for 35 eth (approximately $82,466.39) moments after Ape Punk changed hands.
CryptoPunk 9368, one of the 88 Zombie Punks, marked the second-highest sale of the collection on September 5, selling for 310 eth ($734,179). Interestingly, the Punk has already received an offer for 1,500 eth, but the deal has yet to close. If the sale goes through, it would mark CryptoPunk’s highest sale since March.
CryptoPunks are currently the most valuable nft collection, with a 24-hour sales volume of around $1.68 million. However, the recent sales are far from the most valuable nft transaction for the Apex collection.
In March 2024, CryptoPunk 3100 sold for $16.03 million worth of eth, while CryptoPunk 7804 sold for around $16.42 million just a few weeks later. However, these values pale in comparison to CryptoPunk 5822, which sold for 8,000 eth ($23.7 million) in February 2022.
The $1.48 million sale has sparked new optimism within the nft community, with many influencers enthusiastically claiming that nfts are making a strong comeback.
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Despite the recent uptick in activity, the nft market has struggled over the past month, driven by declining sales and an exodus of buyers. At the time of writing, cumulative nft sales volume was down 42.15%. Additionally, total nft transactions declined 24.48% to 7.1 million, indicating that demand for these assets has weakened.
Adding insult to injury, a sudden notice from the Securities and Exchange Commission targeting nft marketplace OpenSea has further fueled the downturn, raising concerns within the community about the potential classification of nfts as securities.
