CryptoPunks floor price slips below 80 ETH as NFT trading volume deflates by 50%

CryptoPunks floor price slips below 80 ETH as NFT trading volume deflates by 50%


The minimum cost to buy a CryptoPunks nonfungible token (NFT) from secondary marketplaces dropped below 80 ETH on Tuesday.

Larva Labs reported that the so-called “CryptoPunk 1417,” a pixelated avatar of one of 3840 women created by digital artists Matt Hall and John Watkinson, is listed for sale at 79.99 ETH (almost $266,168).

The floor price of CryptoPunks fell below 80 ETH. pic.twitter.com/aD3Cwbl0IK

— Wu Blockchain (@WuBlockchain) September 14, 2021

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A quick look into the history of transactions involving #1417 showed that its owner sold it for as low as 0.9 ETH (~$159) in January 2020. The new possessors kept raising their ask price for the NFT in the later months. As of Aug. 31, its floor rates had topped near 118.99 ETH (~$407,165).

But no bids came for #1417, forcing the auctioneer to reduce the NFT’s floor price to 93.99 ETH ($368,539) by Sept. 7. A flurry of bargains later, the owner listed the digital collectible for 79.99 ETH and received an

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