The Cryptopunk floor is up by a staggering amount this month, smashing records on an almost daily basis. The new minimum price for purchasing a CryptoPunk is now 23.50ETH ($34.738.41 at time of writing). This is after an unknown, single buyer went on a CryptoPunks shopping spree on February 22nd. The anonymous buyer spent $1 million.
The big whale in the game is a mystery to everyone, although there are speculations that it might be billionaire Chamath Palihapitiya who is responsible for shaking things up. The transaction took place shortly after Chamath proudly posted on Twitter that he is about to rock the boat.
— Spencer Noon (@spencernoon) February 21, 2021
According to the Larva Labs marketplace, a total of 34 CryptoPunks were bought by the unknown investor. The CryptoPunks purchased all vary in price in the range of $21 000 and $26 000. Some of them were sold a number of times before, and some were sold for the first time ever by their original owners.
So what do you think? Could it be Chamath being the shrewd investor he is? or is it pure coincidence? or could it even be that it has nothing to do with any legitimate investors, and there is something a bit more sinister happening behind a CryptoPunks smoke screen? The next few months will tell all.
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Ivelina is an NFT and Blockchain lover. She has a knack for putting complex concepts into simple words.