A prominent NFT trader incurred a substantial loss of nearly $10 million when they recently sold their CryptoPunk NFT for 4,000 ETH. The sale represents a significant markdown from the original purchase price of 4,500 ETH, which was equivalent to approximately $15.79 million at the time. This comes as Ethereum (ETH), the currency used to buy and trade NFTs, has experienced a substantial decline over recent months, dropping nearly 55% from its peak near $3,500 to its current value of $1,568. The trader’s CryptoPunk #3100 sale was notable as it marked one of the second-highest transactions for this specific Alien Punks NFT during March 2024. However, with the market showing signs of cooling, many traders who invested heavily in this particular niche during the previous bullish phase are now facing significant losses as the NFT trend shifts into a more conservative outlook. This instance underscores the inherent volatility that often characterizes the digital asset landscape.