Is it a bear market?
Someone recently bought Pudgy Penguins non-fungible token (NFT) with the hashtag #6873 for 400 Ethereum (ETH) worth around $630,000, which is more than half a million dollars even in the current market downturn.
Yesterday a @pudgypenguins NFT sold for a record 400 ETH (~$630k)
It is by far the largest NFT sale of the last 24 hours 👀
More free NFT analytics 📈 https://t.co/cPTCcGzlFX pic.twitter.com/hZXgPiIXrA
— IntoTheBlock (@intotheblock) August 23, 2022
The digital artwork is part of the 8,888 Cute Chubby NFT on Pudgy Penguins collection designed by freelance artist Cole Thereum, the project’s owner.
The recent sale marks a new milestone for the Penguin collection as it is among the highest-selling virtual artworks in the group. In addition, it recorded the largest NFT sale within 24 hours at the time of purchase.
The PudgyPenguin #6873 NFT was bought by dreesuschrist on CoinUnited, a cryptocurrency exchange based in Hong Kong, from the seller who has held the digital artwork for almost a year. Before the sale, the NFT was purchased on CoinUnited for 225 wrapped ETH.
The Penguins’ recent sale came just a few months after Luca Netz acquired the project from its creator Cole Thereum for approximately 750 ETH.
The latest NFT sale comes when the cryptocurrency industry faces a new meltdown, with Bitcoin, the King coin retesting $21,000.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.