🔺 What to do when markets are at an all-time high? Find smart bargains, like these.See Undervalued Shares

A CryptoPunk Was Sold To Help Ukraine: Here's How Much It Went For

Published 23/06/2022, 16:36
© Reuters.  A CryptoPunk Was Sold To Help Ukraine: Here's How Much It Went For
ETH/EUR
-
ETH/USD
-
ETH/USD
-
ETH/EUR
-
ETH/JPY
-
ETH/GBP
-
ETH/JPY
-

To help aid in its efforts against an invasion by Russia, the country of Ukraine began accepting cryptocurrency donations earlier this year. Someone transferred a non-fungible token from one of the most well-known and valuable collections to help in the efforts.

The NFT was recently sold. Here are the details.

What Happened: CryptoPunk #5364 was purchased on Feb. 21, 2021, for 16.19 ETH before it was donated in March 2022 to the wallet being used by Ukraine to accept cryptocurrency donations.

CryptoPunk #5364 has the following traits:

Bandana: 5% of Punks

Cigarette: 10% of Punks

Classic Shades: 5% of Punks

Male: 60% of Punks

At the time of the donation, the floor price of CryptoPunks was 68.9 Ethereum (CRYPTO: ETH), or around $204,000.

The NFT was recently sold for 90 ETH, or more than $100,000, according to the government of Ukraine.

Related Link: How The Cryptocurrency And NFT Communities Are Rallying Financial Support For Ukraine And Its Artists

Why It’s Important: Ukraine accepting cryptocurrency as a donation option led to a pouring in of support. The country has received more than $135 million in donations from Bitcoin (CRYPTO: BTC), Ethereum, Dogecoin (CRYPTO: DOGE), other cryptocurrencies and NFTs.

Crypto donations are used to buy items such as bulletproof vests and medical supplies for the country.

CrytoPunks are considered by many to be one of the original Ethereum NFT collections and a strong bet on value.

A surge in sales volume for the collection happened last week with volume hitting $23.6 million, up 382% from the previous week.

CryptoPunks ranks second all-time among NFT collections with $2.29 billion in sales volume, trailing only Axie Infinity.

The floor price for CryptoPunks is 64.89 ETH, or $72,582, at the time of writing.

Photo: CryptoPunk #5364

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.