User Curiously Registers $1M Loss on Bored Ape Sale

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An unnamed OpenSea user that purchased Bore Ape #6588 for more than $1.1M less than a month ago, sold that same Ape for an astonishing $1M loss early this morning.

The ape, which features a cowboy hat and crazy eyes, was initially purchased for 76.99 ETH on August 30. A day later the ape sold for 10x the price, 769.9 ETH or $1.196M at the time of purchase.

This morning, the Ape was sold again for 75 ETH, nearly 10 percent of the previous purchase price.

In our initial reporting, we indicated that the buyer at 769.9 ETH had only made two prior transactions, one of which was funding the wallet with 800 ETH from FTX. The user has made no other notable NFT purchases.

At the time of writing, the Bored Ape Yacht Club floor price stands at 74 ETH.

Author Bio

Logan Hitchcock

NFT Analyst

Logan is a content lead at Lucky Trader and is best known for selling every good NFT far too early. He also maintains an irrational exuberance for clay-based NFTs.

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