Trader Loses $10 Million on Rare CryptoPunk NFT

Alien CryptoPunk 3100 is on the move again, but this time the selling party has taken a crippling loss. The rare non-fungible token (NFT) was purchased in March 2024 for 4,500 ETH, worth $16 million at the time, resulting in a $8.5 million profit for the original seller. However, the anonymous buyer decided to offload it just one year later and sold Punk 3100 for 4,000 ETH ($6 million) today. While the seller realized an 11% loss in ETH terms, the seller lost 62% of their investment in dollar terms due to Ethereum’s lackluster price performance. ETH is down 56% over the last year. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant