$532 Mln for One NFT, Bulls-Driven BTC Rally, Newest Dogecoin Killer

Here’s what is special behind the largest ($0.5B+) digital collectibles sale in the history of this red-hot segment

In its daily recap, GetBlock unveils who stays behind the record-breaking NFT trade and massive Bitcoin (BTC) rally.

‘CryptoPunk’ NFT has been sold for $532 mln, but there’s one caveat

Today, on Oct.29, an anonymous NFT trader who goes by @sobylife in Twitter, made the headlines by record-breaking purchasing. He/she bought CryptoPunk 9998 character for more than $532 million or almost 125K Ethers by the time of trade.

This is by far the largest single trade in the turbulent history of an NFT segment. However, even in the context of the ongoing digital collectibles mania, this price has nothing to do with supply/demand principles.

Crypto analysts unveiled that it was the holder of NFT who bought it from himself. He/she borrowed this unbelievable sum from a couple of decentralized lending protocols including Compound Finance (COMP) and returned the funds immediately after trade.

He/she admitted that the point of this manipulation was to stimulate the interest in his tokens on Larva marketplace and to bring CryptoPunk 9998 to #1 position in the rankings of most expensive NFTs ever.

Bulls are pushing Bitcoin (BTC) to new highs: Kraken

In recent days, when Bitcoin (BTC) price printed fresh all-time-high over $67,000, traders and analysts were guessing about the most influential catalysts of this magnificent upsurge. While the majority of Crypto Twitter speakers attributed this growth to retail interest, Kraken Research experts arrived at the opposite conclusion.

According to the fresh report, Bitcoin (BTC) whales (wallets with 100+ BTC) continued accumulating aggressively over $60,000. The average volume of holdings of all Bitcoin (BTC)wallets from this category increased by 0.25% in three weeks only.

Also, the number of wallets in this super-elite club surged by 1.6% in October, 2021. As such, Bitcoin (BTC) whales are sure that this marvellous rally is nowhere near its ending.

At press time, the crypto king is changing hands at $61,257 on major spot platforms, down 0.25% in 24 hours.

New dog-coin FLOKI adds 100% in 24 hours

Crazy segment of memetic canine tokens, ‘dog-coins’, has its new hero, Floki Inu Coin (FLOKI). This cryptocurrency carries the name of Floki, a Shiba Inu of the most popular Dogecoin (DOGE) promoter Elon Musk.

Image by CoinMarketCap

On Oct.28–29, FLOKI price added more than 100%, witnessing an upsurge from $0.00014 to more than $0.00028. Yesterday FLOKI joined three commas club: its fully diluted market capitalization is estimated at $2,403,722,709.

Just like all other meme-coins, FLOKI has zero real-world utility and can be used only for trading. As such, this spike has nothing to do with technical or marketing progress and should be attributed to speculative interest only.

Two largest dogcoins, SHIB and DOGE, also witnessed double-digit increase in the last 24 hours; they both earned the spots in the Top-20 by market capitalization.

--

--

--

GetBlock is a service that provides fast and easy API connection to blockchain nodes of 40+ cryptocurrencies.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

DKT FINANCE AIRDROPS

The Incredible Generosity of the DRIP Community!

Dataverse: Enter your private space

Metaple Finance — Staking

What’s the point of Bitcoin?

From Physics to the Blockchain

Anthony Di Iorio, Cofounder of Ethereum, Joins AXIS DeFi as an Early Investor

LOCGame Partners With Ferrum Network To Launch New Staking Program; “MCW’s Rookie Of The Year Pool”

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
GetBlock

GetBlock

GetBlock is a service that provides fast and easy API connection to blockchain nodes of 40+ cryptocurrencies.

More from Medium

Bitcoin- Entering untapped waters

Bitcoin- Entering untapped waters

Crypto loans in El Salvador, 1Inch Network expands to Avalanche — Aspen Market Daily

How to Buy Meishu Coin ($MEISHU) — Beginner’s Guide

How to Buy Meishu Coin ($MEISHU)

How to make $150 a month posting and commenting on Reddit?