Non-Fungible Token trader loses nearly $10 million after selling CryptoPunk after a year

An investor has sold a CryptoPunk Non-Fungible Token with an actual loss of nearly 10 million USD, reflecting the continued decline of the once-booming Non-Fungible Token market. A major cryptocurrency market investor sold a CryptoPunk Non-Fungible Token for 4,000 Ether (ETH), valued at over 6 million USD. This investor originally purchased the Non-Fungible Token for 4,500 ETH, equivalent to approximately 15.7 million USD, a year ago, according to data from blockchain analysis company Lookonchain. "He only lost 500 ETH (774K USD)? No-in reality, he lost 9.73 million USD!" Lookonchain wrote on X. "When he bought it, ETH was priced at 3,509 USD. When he sold it, ETH had dropped 57%," the company added further. Despite the significant loss, this 6 million USD transaction still ranks among the largest Non-Fungible Token transactions in the past 30 days, according to data from CryptoSlam. This transaction occurs against the backdrop of a stagnant Non-Fungible Token market, lacking widespread trader interest. Non-Fungible Token trading volume on Ethereum decreased by over 53% in the past month, while Non-Fungible Token trading volume on Polygon dropped by 41%. CryptoPunks experienced a temporary floor price increase of 13% following rumors that Yuga Labs' owner might be "considering" selling the collection's intellectual property.