NFT is at it again, CryptoPunk sells for $17M

Bitcoin has reached a new price record, pulling the rest of the market with it. Optimism is now spreading to other cryptocurrency sub-sectors, including non-convertible tokens This week, NFTs from the popular CryptoPunks NFT collection sold for a whopping sum.

Rare CryptoPunks sold for a huge amount

This can be seen from the transaction summary on the CryptoPunk project's decentralized app. Punk number 3100, one of the nine "alien punks", was sold for 4,500 Ethereum
Thus, at the current ETH exchange rate, it is worth about 17 million dollars.
Two other buyers offered 4,500 ETH and 4,250 ETH, but in the end the third bidder won. The seller had originally asked for 4,710 ETH, but apparently that target was not met.
It seems that it was the high price of ETH that convinced the seller. Indeed, when the previous owner put NFT up for sale, 4710 ETH was still worth $15.9 million. In dollar terms, the seller is now in a slightly better position.
CryptoPunk #3100 is one of 10,000 tokens in the series. It is extremely rare as there are only nine other "aliens" and only 406 with a headband.
According to CoinGecko, the lowest price of the CryptoPunks series is currently averaging 57 ETH, or $217,000 in terms of value. Thus, it is significantly lower than this rare token. Nevertheless, this is not the most expensive CryptoPunk in history. Such a one was sold in 2022 for 23.7 million USD.

NFT are starting to gain popularity again

NFTs have become significantly more popular over the past two years. Even as the rest of the cryptocurrency market recovered, the prices of many NFTs remained low.
Meanwhile, these tokens are starting to regain popularity. Ordinary NFTs on the Bitcoin blockchain have been particularly popular over the past few months, and now Ethereum NFTs are coming back to life. In early February, trading volumes rose to the highest level since February 2023.