According to Larva Labs, the value of CryptoPunk NFT has increased dramatically, with the lowest Punk price currently worth 105 Ether (about $394k).
Inactive wallets hold some of the oldest Punks, and it was last active over four years ago. Interestingly, some of the Punk in the wallet is expected to be worth more than the lowest Punk collection if the wallet owner decides to sell.
Wallets catch the eye
Although the last event was in 2017, the wallet has gained a lot of attention recently as the market value of NFT continues to soar.
According to the data, a total of 47 people are currently following it in hopes that the owner may choose to sell some punk collectibles in the future.
In the meantime, some buyers have made a major move in the hope that the owner of the wallet will sell some CryptoPunks.
So far, Punk has attracted 10 bids worth about $8,667 from investors who are hoping to convince the owner to sell some digital art.
CryptoPunks’ value keeps rising
CryptoPunks launched in mid-2017 and boasts a fixed supply of 10,000 non-identical characters. The series was one of the first NFT projects and is considered to be the inspiration for the CryptoArt movement.
Since its launch, the series has been featured in the media, which has contributed to its popularity over the years.
Also, the NFT space has been the topic of interest for many cryptocurrency traders since the beginning of this year, especially since the famous Beeple Art was sold for $69 million in March.
Cryptocurrency Twitter Reactions
Reacting to this development, some market participants went to Crypto Twitter to discuss the possibility of valuable assets like the famous CryptoPunks being held for over four years without thought of selling some digital art.
A user known as @swissbeatsis commented, “The best way to [diamond hands] is to forget you have hands.” This suggests that the best way to hold such an asset for the long term is for the owner to forget about it altogether.
However, another tweeter with the username @10Xrp suggested that the owner of CryptoPunks could possibly be dead, commenting.
“It’s very important that your family or someone you trust will know how to access your wallet after your death. Otherwise, it’s lost and really worthless.”