Trader lost $10M on a rare CryptoPunk

The rare NFT was purchased in March 2024 for 4,500 ETH, which was worth $16M at the time. That brought the original seller a profit of $8.5M. However, the anonymous buyer decided to part with it just a year later and sold Punk 3100 today for 4,000 ETH, or $6M

Although the seller took an 11% loss in ETH, they lost 62% of their investment in dollar terms due to Ether's weak price action, as ETH has fallen 56% over the past year

This move may signal capitulation on the seller's part, as just a month ago they ignored an offer of 5,250 ETH, which at the time amounted to $11.57M

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