6 days ago

NFT Trader Suffers $10M Loss After Sale of Rare Alien CryptoPunk

An anonymous NFT collector has suffered a $10 million loss after selling one of the rarest CryptoPunks on Thursday. On-chain data shows that Punk #3100 changed hands for 4,000 ETH, translating to approximately $6.07 million via a private transaction on the official CryptoPunks marketplace. The NFT is one of just nine Alien Punks in the original 10,000-piece CryptoPunks collection created by Larva Labs in 2017. Recognized for its distinctive blue skin and bandana, the Alien Punk is part of the most sought-after group in the NFT space. The $10M Loss Blockchain data from Arkham Intelligence shows that this particular NFT previously sold in March of last year for 4,500 ETH, then valued at more than $16 million. The sale ranks as the third most expensive single NFT transaction by dollar value. Just days after that transaction, Punk #7804 exchanged for 4,850 ETH worth roughly $16.42 million at the time, marking the second-largest deal in the collection’s history. However, due to Ethereum’s price drop over the past year, Thursday’s 4,000 ETH sale amounted to just over $6 million, resulting in the seller making a $10 million loss from the transaction. While the parties in the exchange remain unidentified, Etherscan records show that the purchasing wallet received 4,001 ETH from an account labeled “Coinbase Prime 2” shortly before the sale. Alien CryptoPunks continue to dominate the top end of the NFT market. They are the rarest type in the collection, even more than the 88 Zombie Punks or the 24 Ape Punks. The top seven of the highest-value on-chain CryptoPunk sales involve these variants. CryptoPunks Hit by Market Downturn Despite their status, CryptoPunks have not been immune to the broader downturn in the NFT market. Data from NFT Price Floor shows that their asking price has dropped nearly 43% in the last three months, currently sitting at $71,031. This figure marks a notable decline from the collection’s peak in November 2021, when the figure exceeded $400,000. Originally offered for free in 2017, the digital assets have evolved into cultural symbols of the early NFT era. In 2022, the intellectual property rights were acquired by Yuga Labs, creator of the Bored Ape Yacht Club. Earlier this year, speculation swirled about a possible sale of the product’s IP. However, Yuga Labs co-founder Greg Solano dismissed the rumors, stating that while many parties had approached the company, there were no plans to divest any time soon. The post NFT Trader Suffers $10M Loss After Sale of Rare Alien CryptoPunk appeared first on CryptoPotato .

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‘We Shouldn’t Be Tapping Out Just Yet’: Guy Turner Says Crypto Bear Market Not Starting Soon – Here’s His Outlook

$A widely followed crypto analyst says that investors should continue hanging on as we are nowhere near the start of the next crypto bear market. In a new video update , Guy Turner, the host of Coin Bureau, tells his 2.66 million YouTube subscribers that the markets are still way too bullish for traders to be thinking about a bear market starting anytime soon, despite the industry taking a “pounding” recently. According to Turner, we’re still very much in Bitcoin ( BTC ) season as BTC dominance is still on the rise. He notes that when it comes time to flip to altcoin season, which appears to be coming soon, the top 10 altcoins by market cap will likely see the most inflows. “Bitcoin dominance continues to climb… Taking a look at the altcoin season indicator, we’re still clearly in Bitcoin season, but you’ll also notice that we’re also at levels where this trend has historically reversed, with more money flowing into altcoins. In our opinion, the altcoins that will see the most investment will likely be those in the top 10 by market cap, although this also means that the potential gains will be significantly lower.” The crypto king is trading for $84,542 at time of writing, a fractional increase on the day, while its dominance level currently sits at 63.9%. Turner goes on to say the regulatory turnaround by the US on digital assets will also greatly bolster the industry, both in retail and institutional trading, so traders shouldn’t think about giving up yet. “Crypto regulators in the US have become much friendlier to the industry thanks to the pro-crypto stance taken by the Trump administration… We believe that this will help to attract a broad range of investors to the crypto market over time, be they retail or institutional investors, and this is also why we believe that although the market has been taking an absolute pounding lately, we shouldn’t be tapping out just yet… The overall picture is still too bullish for us to be concerned about a bear market starting anytime soon.” Follow us on X , Facebook and Telegram Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/intueri/LongQuattro The post ‘We Shouldn’t Be Tapping Out Just Yet’: Guy Turner Says Crypto Bear Market Not Starting Soon – Here’s His Outlook appeared first on The Daily Hodl .$

A widely followed crypto analyst says that investors should continue hanging on as we are nowhere near the start of the next crypto bear market. In a new video update , Guy Turner, the host of Coin Bureau, tells his 2.66 million YouTube subscribers that the markets are still way too bullish for traders to be thinking about a bear market starting anytime soon, despite the industry taking a “pounding” recently. According to Turner, we’re still very much in Bitcoin ( BTC ) season as BTC dominance is still on the rise. He notes that when it comes time to flip to altcoin season, which appears to be coming soon, the top 10 altcoins by market cap will likely see the most inflows. “Bitcoin dominance continues to climb… Taking a look at the altcoin season indicator, we’re still clearly in Bitcoin season, but you’ll also notice that we’re also at levels where this trend has historically reversed, with more money flowing into altcoins. In our opinion, the altcoins that will see the most investment will likely be those in the top 10 by market cap, although this also means that the potential gains will be significantly lower.” The crypto king is trading for $84,542 at time of writing, a fractional increase on the day, while its dominance level currently sits at 63.9%. Turner goes on to say the regulatory turnaround by the US on digital assets will also greatly bolster the industry, both in retail and institutional trading, so traders shouldn’t think about giving up yet. “Crypto regulators in the US have become much friendlier to the industry thanks to the pro-crypto stance taken by the Trump administration… We believe that this will help to attract a broad range of investors to the crypto market over time, be they retail or institutional investors, and this is also why we believe that although the market has been taking an absolute pounding lately, we shouldn’t be tapping out just yet… The overall picture is still too bullish for us to be concerned about a bear market starting anytime soon.” Follow us on X , Facebook and Telegram Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/intueri/LongQuattro The post ‘We Shouldn’t Be Tapping Out Just Yet’: Guy Turner Says Crypto Bear Market Not Starting Soon – Here’s His Outlook appeared first on The Daily Hodl . Crypto Potato

Ripple an Early Investor in HashKey Capital New XRP Tracker Fund in Asia

The HashKey XRP Tracker Fund’s debut Friday marked the first of several planned collaborations between the Asia-based asset manager and Ripple Labs. Crypto Potato