Rare CryptoPunk NFT Is on Sale for Less Than Half the Price Paid Four Months Ago

    CryptoPunk #5822, one of the 9 rarest “Alien Punks” in the collection, is being listed for 9,000 ETH (equivalent to $9.9 million), less than half the price paid 4 months ago.

    Chain CEO Deepak Thapliyal officially offered CryptoPunk #5822 for 9,000 ETH today. He bought it for 8,000 ETH on February 12, when 8,000 ETH was worth $23.7 million.

    Earlier in February, NFT community was stirred up by the news that he spent 8,000 ETH (equivalent to $23.7 million at that time) to pick up this NFT. This huge amount broke the last record of transaction value in ETH and USD. While Thapliyal may be at a loss, the previous owner made a profit of $23.7 million on the sale.

    The floor prices of NFT collections could not continue to reverse the market storm as many recessions embraced, with some projects dropping by 55%.

    CryptoPunks, the project that rocked the NFT community in 2021 is not out of the downtrend either. This collection has experienced a sharp drop in value, although its floor price has grown by 50% in the previous two months.

    Since Ethereum is chosen by 84.7% of the NFT collections, the second biggest crypto has also been suffering the same situation as the entire crypto market. 

    ETH price has lost nearly 70% of its value since the beginning of the year, even falling to the top 3 sometimes, the lowest level that ETH recovered was $881.56. Currently, ETH is being traded at $1.080 on Binance.

    ETH/USDT 1h chart on Binance at 11:00 AM on June 23, 2022

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