{"id":16758,"date":"2024-09-06T16:43:36","date_gmt":"2024-09-06T13:43:36","guid":{"rendered":"https:\/\/forklog.com\/en\/rare-cryptopunk-sells-for-1-5-million-with-a-78-paper-loss\/"},"modified":"2024-09-06T16:43:36","modified_gmt":"2024-09-06T13:43:36","slug":"rare-cryptopunk-sells-for-1-5-million-with-a-78-paper-loss","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/rare-cryptopunk-sells-for-1-5-million-with-a-78-paper-loss\/","title":{"rendered":"Rare CryptoPunk Sells for $1.5 Million with a 78% &#8216;Paper&#8217; Loss"},"content":{"rendered":"<p>On September 5, CryptoPunk #6915 <a href=\"https:\/\/cryptopunks.app\/cryptopunks\/details\/6915\">changed hands<\/a> for 620 ETH ($1.48 million). This NFT is one of 24 ape-themed CryptoPunks featuring three attributes: a hat, an earring, and an eye patch.<\/p>\n<p>According to <a href=\"https:\/\/cryptopunks.app\/cryptopunks\/details\/6915\">CryptoPunks<\/a> data, in March 2024, when the monthly NFT sales volume was around $1.6 billion, offers for #6915 ranged from $5 million to $6 million. The token&#8217;s &#8216;paper&#8217; price has since fallen by 78%.<\/p>\n<p>The community found it <a href=\"https:\/\/x.com\/jamesmarshall17\/status\/1831950345289003046\">&#8220;strange&#8221;<\/a> to decline the deal in March and called the current sale price &#8220;madness.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">$1.5m on a punk in 2024 is crazy, GG seller<\/p>\n<p>\u2014 APE (@Ape_31) <a href=\"https:\/\/twitter.com\/Ape_31\/status\/1831788564667101218?ref_src=twsrc%5Etfw\">September 5, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>There was also speculation that the transaction was fictitious, intended to alter market participants&#8217; perception of the asset&#8217;s price or liquidity. Such deals occur when a trader buys and sells the same token.<\/p>\n<p><a href=\"https:\/\/cointelegraph.com\/news\/rare-ape-cryptopunk-sells-1-5m\">Cointelegraph<\/a> recalled that in October 2021, #9998 was sold for nearly $500 million. On-chain data indicates the previous owner of the CryptoPunk returned Ethereum to the buyer to repay a flash loan.<\/p>\n<p>In August, the monthly NFT sales volume was the lowest since October 2023, according to <a href=\"https:\/\/www.cryptoslam.io\/nftglobal?timeFrame=month&#038;headerPeriod=30d\">CryptoSlam<\/a> data. In the second quarter, the figure <a href=\"https:\/\/forklog.com\/en\/news\/nft-sales-plunge-44-amid-crypto-market-downturn-and-meme-token-surge\">fell by 44%<\/a> compared to January-March.<\/p>\n<p>In March 2024, American comedian Kevin Hart&#8217;s <span data-descr=\"Bored Ape Yacht Club\" class=\"old_tooltip\">BAYC<\/span> #9258 was <a href=\"https:\/\/forklog.com\/en\/news\/kevin-harts-bayc-nft-sells-at-a-76-discount\">sold for 13.65 ETH<\/a>\u201476% below the purchase price. Pop star Justin Bieber&#8217;s token from the same collection <a href=\"https:\/\/forklog.com\/en\/news\/justin-biebers-nft-investments-plummet-by-95\">depreciated by nearly 95%<\/a>.<\/p>\n<p>In the same month, CryptoPunk #7804, one of the nine so-called &#8220;aliens,&#8221; was sold for 4850 ETH <a href=\"https:\/\/forklog.com\/en\/news\/cryptopunk-fetches-16-million-in-latest-sale\">($16.42 million<\/a>).<\/p>\n<p>In August, the owner of the most expensive CryptoPunk #5822, Deepak Thapliyal, who purchased the token for 8000 ETH ($23.7 million at the time) in 2022, disposed of the asset for 1500 ETH (~$3.9 million) <a href=\"https:\/\/forklog.com\/en\/news\/cryptopunk-sold-at-a-loss-after-24-million-purchase\">with an 80% loss.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On September 5, CryptoPunk #6915 changed hands for 620 ETH ($1.48 million). This NFT is one of 24 ape-themed CryptoPunks featuring three attributes: a hat, an earring, and an eye patch. According to CryptoPunks data, in March 2024, when the monthly NFT sales volume was around $1.6 billion, offers for #6915 ranged from $5 million [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16757,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1227,1432,1145,1213],"class_list":["post-16758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-transactions","tag-cryptopunks","tag-market-analysis","tag-nft"],"aioseo_notices":[],"amp_enabled":true,"views":"37","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=16758"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16758\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/16757"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=16758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=16758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=16758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}