NFT Crash: Trader Loses $10M Selling THIS Rare NFT Collection
Massive Loss as Trader Dumps CryptoPunk #3100
One of the most shocking NFT sales of the year just happened: A trader sold CryptoPunk #3100, one of the rarest Alien Punks, and took a $10 million hit on the trade.
The seller originally bought the Punk for 4,500 ETH in March 2024 – worth about $15.79 million back then. This week, they sold it for 4,000 ETH, which doesn’t sound like a huge discount at first glance… but here's the catch:
The Ethereum price has dropped nearly 55% since then. The 4,000 ETH sale now equals only around $6.06 million, locking in a brutal loss, as reported by Cryptotimes.
ETH Price Decline Turned Small Discount Into Major Loss
Back in March 2024, ETH was trading at $3,500. Today, it sits around $1,568 – which means the seller didn’t just lose on the NFT itself, but also on the value of the underlying crypto asset.
This sharp drop is what transformed a seemingly minor ETH difference into a multi-million-dollar loss.
ETH/USD price in the past week - TradingView
CryptoPunk #3100 is no ordinary NFT. It’s part of the Alien Punks collection – with only 9 in existence out of 10,000 total CryptoPunks. At the time of its original purchase, it was the second-highest sale ever recorded for a Punk.
NFT Market Downturn Hits Investors Hard
This case isn’t unique. Over the past few months, many NFT investors have sold at steep losses, especially those who bought in during the 2021–2022 hype cycle.
The sale of CryptoPunk #3100 underscores how volatile and speculative the NFT market can be, particularly when combined with crypto price swings.
Once a booming asset class, NFTs have seen declining volumes, floor prices, and investor sentiment across major collections. Even ultra-rare tokens aren’t immune.
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NFT Crash: Trader Loses $10M Selling THIS Rare NFT Collection
Massive Loss as Trader Dumps CryptoPunk #3100
One of the most shocking NFT sales of the year just happened: A trader sold CryptoPunk #3100, one of the rarest Alien Punks, and took a $10 million hit on the trade.
The seller originally bought the Punk for 4,500 ETH in March 2024 – worth about $15.79 million back then. This week, they sold it for 4,000 ETH, which doesn’t sound like a huge discount at first glance… but here's the catch:
The Ethereum price has dropped nearly 55% since then. The 4,000 ETH sale now equals only around $6.06 million, locking in a brutal loss, as reported by Cryptotimes.
ETH Price Decline Turned Small Discount Into Major Loss
Back in March 2024, ETH was trading at $3,500. Today, it sits around $1,568 – which means the seller didn’t just lose on the NFT itself, but also on the value of the underlying crypto asset.
This sharp drop is what transformed a seemingly minor ETH difference into a multi-million-dollar loss.
ETH/USD price in the past week - TradingView
CryptoPunk #3100 is no ordinary NFT. It’s part of the Alien Punks collection – with only 9 in existence out of 10,000 total CryptoPunks. At the time of its original purchase, it was the second-highest sale ever recorded for a Punk.
NFT Market Downturn Hits Investors Hard
This case isn’t unique. Over the past few months, many NFT investors have sold at steep losses, especially those who bought in during the 2021–2022 hype cycle.
The sale of CryptoPunk #3100 underscores how volatile and speculative the NFT market can be, particularly when combined with crypto price swings.
Once a booming asset class, NFTs have seen declining volumes, floor prices, and investor sentiment across major collections. Even ultra-rare tokens aren’t immune.
Читать больше
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