NFT Trader Loses $10 Million on Alien CryptoPunk, NFT Market Plummets

An NFT investor recently suffered a significant loss of $10 million when selling their rare Alien CryptoPunk. This sale comes amid declining NFT market activity, with sales volume down 41% over the past 30 days. According to blockchain analytics firm Arkham, this trader bought the CryptoPunk for 4,500 ETH ($16 million) a year ago and recently sold it for 4,000 ETH ($6 million). This loss highlights the volatile nature of the NFT market.