Deal or No Deal?
CryptoPunk 5577, an Ape with a cowboy hat, received a bid of more than $2 million this morning, according to the Larva Labs marketplace.
❗Why It Matters
Although the bid comes in well below the valuation of the last sale of this Punk, the $2 million bid (1,600 ETH) is the largest outstanding offer on a CryptoPunk at the time of writing. The next closest bid is only 125 ETH, while the CryptoPunk floor price remains at 66.27 ETH.
📊 By the Numbers
CryptoPunk 5577 last changed hands in Feb. 2022 when it traded for 2,501 ETH, approximately $8 million on the day of the transaction according to the Etherscan transaction.
Not only does the $2 million bid fall well short of the previous purchase price, but also well shy of DeepValueNFT's price estimator which values the Punk at 2,562.2 ETH - even higher than the previous purchase price, though it is cheaper in USD. The bid marks a 38 percent discount from DeepNFTValue's estimations.
🎤 Community Quotes
The community chimed in, quickly recognizing the bid was far too small.
lol that's cuteAlex Becker