Do you recall when CryptoPunks were the pinnacle of status symbols?
The 10,000 avatars released by Larva Labs in 2017 became some of the most sought-after items during the NFT boom of 2021, with certain pieces from the collection selling for as much as $56 million worth of ether (ETH) on the open market in 2024.
According to data from NFT analytics, the top five most valuable NFTs are part of the CryptoPunk series. However, it seems that some holders are starting to divest.
The owner of CryptoPunk #3100, which ranks as the third-highest NFT sale to date, sold their token on Friday for 4,000 ETH — a loss of 500 ETH, translating to more than $10 million, as the value of ETH has plummeted nearly 60% over the past year.
Despite this, it remains a significant amount for a CryptoPunk, especially considering the collection’s current floor price — the lowest asking price — is 42 ETH, approximately $65,000, based on data from CoinGecko. The value of #3100 is attributed to its rarity as an “alien” (only 9 out of 9,985 punks) and its distinctive hairband (406 out of 9,742 punks).
NFT trading volumes have generally been on the decline since 2021, with a few exceptions during brief periods of heightened activity. Overall sales dropped to just over $58 million as of April 7, reflecting levels akin to those seen in early 2021.