April 10, 2025

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12:00 am

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Cryptopunk Trader Loses $10M

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    NFT trader 0x705 on Arkham
    NFT trader 0x705 on Arkham

    NFT trader, 0x705, acquired an Alien Cryptopunk just over a year ago for 4,500 ETH, worth $15.79M then. Today, he sold the same NFT for 4,000 ETH or $6.06M, locking in his loss of 61.7% or almost $10M. With only 9 Cryptopunks with the trait, the Alien trait is the rarest of all, resulting in its significant premium over other traits. Currently, only 1 other Alien Cryptopunk remains on sale, with a price tag of 5,000 ETH, or ~$7.67M.

    Cryptopunks historical price chart
    Cryptopunks historical price chart

    Cryptopunks always ranked as one of the top NFT collections on Ethereum, having been around since 2017 as one of the first relevant NFT collections. At its peak, Cryptopunks traded at a floor of over 113 ETH in 2021. Since then, NFTs have fallen out of favor in the market, with Cryptopunks trading at a floor of ~42 ETH currently. Additionally, the acquisition of the Cryptopunk IP by the Yuga Labs team has been largely viewed as bearish for the project, resulting in its further decline from its peak.

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