‘CryptoPunk’ NFT has been sold for $532 mln, but there’s one caveat
Today, on Oct.29, an anonymous NFT trader who goes by @sobylife in Twitter, made the headlines by record-breaking purchasing. He/she bought CryptoPunk 9998 character for more than $532 million or almost 125K Ethers by the time of trade.
Why I bought cryptopunk #9998 for 124,457 ETH ($532M USD)October 29, 2021
This was the largest ever on-chain NFT sale in USD, so I knew I had to go for it and make history
Here is the story, it’s time for a thread 👇
This is by far the largest single trade in the turbulent history of an NFT segment. However, even in the context of the ongoing digital collectibles mania, this price has nothing to do with supply/demand principles.
Crypto analysts unveiled that it was the holder of NFT who bought it from himself. He/she borrowed this unbelievable sum from a couple of decentralized lending protocols including Compound Finance (COMP) and returned the funds immediately after trade.
He/she admitted that the point of this manipulation was to stimulate the interest in his tokens on Larva marketplace and to bring CryptoPunk 9998 to #1 position in the rankings of most expensive NFTs ever.
Bulls are pushing Bitcoin (BTC) to new highs: Kraken
In recent days, when Bitcoin (BTC) price printed fresh all-time-high over $67,000, traders and analysts were guessing about the most influential catalysts of this magnificent upsurge. While the majority of Crypto Twitter speakers attributed this growth to retail interest, Kraken Research experts arrived at the opposite conclusion.
Bitcoin whales are behind this month's rally, Kraken Intelligence says https://t.co/XCSie6jHsxOctober 29, 2021
According to the fresh report, Bitcoin (BTC) whales (wallets with 100+ BTC) continued accumulating aggressively over $60,000. The average volume of holdings of all Bitcoin (BTC) wallets from this category increased by 0.25% in three weeks only.
Also, the number of wallets in this super-elite club surged by 1.6% in October, 2021. As such, Bitcoin (BTC) whales are sure that this marvellous rally is nowhere near its ending.
At press time, the crypto king is changing hands at $61,257 on major spot platforms, down 0.25% in 24 hours.
New dog-coin FLOKI adds 100% in 24 hours
Crazy segment of memetic canine tokens, ‘dog-coins’, has its new hero, Floki Inu Coin (FLOKI). This cryptocurrency carries the name of Floki, a Shiba Inu of the most popular Dogecoin (DOGE) promoter Elon Musk.
Image by CoinMarketCap
On Oct.28-29, FLOKI price added more than 100%, witnessing an upsurge from $0.00014 to more than $0.00028. Yesterday FLOKI joined three commas club: its fully diluted market capitalization is estimated at $2,403,722,709.
Just like all other meme-coins, FLOKI has zero real-world utility and can be used only for trading. As such, this spike has nothing to do with technical or marketing progress and should be attributed to speculative interest only.
Two largest dogcoins, SHIB and DOGE, also witnessed double-digit increase in the last 24 hours; they both earned the spots in the Top-20 by market capitalization.