From Cointelegraph
April 12, 2025 08:18 am:

An investor sold a CryptoPunk NFT at a $10 million loss due to the declining blue-chip NFT market. The NFT was originally purchased for 4,500 ETH, worth $15.7 million, a year ago. Despite the loss, the $6 million transaction is the largest NFT sale in the past 30 days. NFT trading volume on Ethereum has dropped more than 53% in the last month.

Blue-chip NFT collections like CryptoPunks have seen significant drops, with the floor price down over 61% from its peak. Bored Ape Yacht Club and Mutant Ape Yacht Club collections are down 89% and 93% respectively. However, the Pudgy Penguin collection reached a new high in sales volume of over $72 million in the first quarter of 2025.

The US SEC recently closed a three-year investigation into Yuga Labs, the owner of CryptoPunks. The investigation aimed to determine if certain NFTs, like fractional NFTs, could be considered securities. This closure comes amid a period of stagnation for the NFT market, with decreased trading volumes on Ethereum and Polygon.

Read more at Cointelegraph: NFT trader sells CryptoPunk after a year for nearly $10M loss