Deal or No Deal?

In this post

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

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.

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice. AI may have assisted in the creation of this content.