Someone Just Spent $10M in Ethereum on a Rare CryptoPunk NFT

Key Takeaways

  • CryptoPunk #4156 sold for $10.26 million today, placing it among the largest sales in the collection.
  • The NFT currently is the most expensive CryptoPunk sold on the blockchain in terms of dollar value.
  • However, other previous sales outrank it on a technicality.

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CryptoPunk #4156 sold for $10 million today, making it one of the most expensive sales in the collection’s history.

Rare CryptoPunk NFT Fetches $10M

A rare ape CryptoPunk just sold for over $10 million.

LarvaLabs’ list of sales suggests that today’s sale for CryptoPunk #4156 is the largest by cash value, with an exact sale price of $10.26 million.

The token’s high price can be explained by its rarity. It is one of just 24 ape CryptoPunks, the second rarest type of CryptoPunk between aliens, of which there are only nine, and zombies, of which there are 88. The vast majority of CryptoPunks are humans, of which there are 9,879.

The high sale price seen today does come with some caveats, though. Due to variations in the price of Ethereum, it is only the third largest sale in terms of ETH. In March, two CryptoPunks sold for 4,200 ETH each, while today’s sale only garnered 2,500 ETH.

The sale is also outranked by Sotheby’s sale of CryptoPunk #7523 for $11.75 million. LarvaLabs does not register this sale, as it appears to be an off-chain sale conducted with cash.

Another CryptoPunk NFT also sold for the high price of $538 million in October, but it was the result of the owner transferring the token to themselves in something of a wash trade rather than a true sale.

Seller Says Auction Houses Reached Out

CryptoPunks is one of the earliest series of Ethereum-based NFTs, dating back to mid-2017. That status has helped the collection attract attention from Ethereum natives, celebrities, and Christie’s and Sotheby’s, two of the world’s most prestigious auction houses.

Incidentally, the original owner of CryptoPunk #4156 said that auction houses reached out to suggest that the item could have fetched an additional 1,500 ETH ($6.3 million) with their assistance.

While it is hard to say how much the token could have actually garnered, major auction houses like Sotheby’s and Christie’s have previously auctioned items from the series with great success.

As such, Punk #4156 may not be the only rare NFT that auction houses have tried to get hold of.

Disclaimer: At the time of writing this author held less than $100 of Bitcoin, Ethereum, and altcoins.

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This Ethereum Chart Is One of the Best in Crypto Right Now, According to Top Analyst – Here’s Why

A popular crypto analyst says one Ethereum (ETH) chart is looking particularly strong right now.

In the latest TechnicalRoundUp newsletter, the pseudonymous analyst known as Cred says the Ethereum chart against Bitcoin (ETH/BTC) is “one of the best-looking macro charts in crypto at the moment.”

Source: TechnicalRoundUp

Ethereum is worth 0.088 BTC, or $4,388.33, at time of writing, up more than 2% in the past 24 hours.

Cred says ETH is more likely to continue making gains against BTC rather than reverse its course.

However, he notes that his overall trading framework is still “defensive.”

“This disconnect between Bitcoin and Ethereum is either a completely new paradigm from April-May (less likely) or a sign that we’re closer to the cycle top (more likely).

While the Ethereum/Bitcoin chart is one of the best-looking macro charts in crypto at the moment, our overall framework is still defensive given the high time frame weakness that has emerged in Bitcoin/Dollar.”

Cred argues that it is a sign of market strength that Ethereum held $4,000 despite the market-wide crash this past week.

“It would be fully validated on a daily range breakout above $4480, which is the range high for now. Any weakness below $4000 would be bearish.”

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First ERC-20 Converter Goes Live On Cardano Testnet

Cardano has marked the launch of its first-ever ERC-20 converter. The project which had been in the works had finally reached its launch milestone with help from IOG, the developer behind Cardano. With the converter, the network will be able to support the migration of ERC-20 tokens from Ethereum to the Cardano blockchain.

Development on the blockchain has been ramping up since the launch of smart contracts capability. The network has seen the first signs of DeFi as developers begin to test out their DApps with help from the foundation. This has inspired even more development with the community waiting with bated breaths for the day they can finally access DeFi services on Cardano.

Related Reading | Here’s What Cardano Founder Charles Hoskinson Wants For Christmas

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AGIX ERC-20 Converter

SingularityNET brings this anticipated capability to the Cardano blockchain. It tested the converter with its AGIX token. Presently, the converter is live on the testnet and users are able to move AGIX tokens from Cardano to Ethereum and vice versa using the AGIX ERC-20 Converter. This will allow for AGIX transactions on a network with a much higher transaction capacity and cheaper fees.

Cardano has always been big on interoperability and this converter helps push it towards its goal of complete interoperability with other blockchains. Founder Charles Hoskinson has voiced this sentiment in the past where he explained that there would not be one blockchain to rule all the others. But rather blockchain infrastructures will co-exist and continue to compete with each other.

Related Reading | Number Of Cardano Wallets Staking ADA Crosses 1 Million

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SingularityNET’s converter furthers this interoperability as it allows ERC-20 tokens to be ‘translated’ into Cardano native tokens while retaining their value and functionality. The converter also works the other way with users being able to convert a token back to its original ERC-20 format using the built-in conversion system.

“The importance of this port for SingularityNET and the whole blockchain and AI ecosystems cannot be overestimated – it will yield not only a far faster and more economical AI network, but also a massively superior foundation for adding advanced new functions to SingularityNET and moving toward realizing our vision of decentralized AGI.” – Dr Ben Goertzel, CEO and Chief Scientist, SingularityNET

Cardano Getting Ready For DeFi

It may still be months until users begin to see the first signs of a fully functional DeFi platform on Cardano but there is no doubt that the project is headed in that direction. For starters, Cardano recently saw the launch of one of the first DEXs . The SundaeSwap launch was unveiled with much fanfare on Monday and allowed users to play around with the project which is now live on the testnet.

Cardano price chart from

ADA price trending at $1.3 | Source: ADAUSD on

As Cardano witnesses what is shaping up to be an exciting start to decentralized finance on its network, it is important to keep in mind that there are still some kinks to work out. The developer addressed the community that they should expect bugs as the exchange takes its first steps.

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Parallel Finance Wins Polkadot’s Fourth Parachain Auction

Key Takeaways

  • Parallel Finance won Polkadot’s fourth parachain auction today.
  • Contributors staked 10.75 million DOT tokens via crowdloan worth more than $300 million.
  • Parallel Finance (and the others in this auction batch) will begin its lease on its slot in just over a week.

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Parallel Finance has won Pokladot’s fourth parachain auction. It joins the other winning projects: Acala, Moonbeam, and Astar.

An Ecosystem Sprouts

Parallel Finance has emerged as the winner of Polkadot’s fourth parachain auction, securing its spot in the Polkadot ecosystem for almost two years. Polkadot parachains are individual blockchains that integrate into the main Polkadot Relay Chain via “slots” and are interoperable with each other through bridges.

Projects compete to win slots through the process of parachain auctions. To win a slot in the Polkadot ecosystem’s parachain auctions, contributors and investors cast votes by staking DOT tokens. To win its slot, Parallel Finance garnered over 10.75 million DOT tokens total, which was equivalent to around $306 million. 

Its founder, Rubo Yuan, expressed gratitude toward contributors for “helping us to become part of the Polkadot ecosystem by securing a parachain.”

This made Parallel Finance the project with the third-largest DOT contribution in the Polkadot parachain auctions so far, slightly ahead of Astar, which won the third parachain auction. There was a big jump, though, between the first and second winners of the parachain auctionAcala and Moonbeam, respectively. Acala put forward a contribution of roughly 32.5 million DOT, and Moonbeam a contribution of roughly 35.75 million DOT. 

Parallel Finance achieved more contributions than other notable projects vying for a parachain slot, such as the Efinity NFT and metaverse project, which currently sits in sixth place with approximately 4.5 million DOT staked on its behalf. 

Parallel Finance will be awarded its lease on the slot on Dec. 17 of this year, which will last until Oct. 20, 2023. Contributors to the project will be rewarded with the PARA token at a rate estimated to be around 25 PARA tokens per DOT contributed. According to the project’s team, these lock-up rewards will be distributed in nine different batches spread out over the duration of the lease, with the first round slated to be distributed on Dec. 22. 

Parallel Finance is an “institutional-grade” lending protocol for DeFi that launched in April of this year, with major backers like Alameda Research, Sequoia, and Lightspeed Venture Partners. It seeks to “provide unique lending solutions tailored to Polkadot while assuring user safety and security.”

Disclosure: At the time of writing, the author of this piece owned DOT and several other cryptocurrencies. 

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Heavyweight Champion Tyson Fury Faces Criticism for Promoting Floki Inu

Developers of the self-named “DOGE Killer” Floki Inu have apparently hired the popular British professional boxer, Tyson Fury, to promote the memecoin to his two million followers on Twitter.

In a short promotional video posted on his Twitter page, the world heavyweight champion could be seen wearing a branded FLOKI hoodie while reading off of a script, urging his followers to join the Floki bandwagon.

Fury mentioned that the memecoin project is currently establishing “massive partnerships” all over the world, concluding the video with a mock-enthusiastic scream of “Valhalla.”

Valhalla is allegedly a Floki Inu flagship utility product, featuring a play-to-earn NFT gaming metaverse still under development.

Crypto Twitter Slams Fury

Fury’s attempt to promote Floki Inu on his page did not go down well with crypto enthusiasts on Twitter. While his post received applause from the so-called Floki Vikings, a great majority of the responses lashed out at the boxer.


Users were quick to point out his apparent lack of genuine interest in the project he was promoting, which was evident in his struggle to pronounce the project’s name and terms.

Some referred to the performance as “embarrassing” and “very bad,” with one user even suggesting that Fury should fire his agent.

Danny Scott, the CEO of UK-based cryptocurrency exchange CoinCorner, also blasted Fury for pushing his fans “into losing money.”

Not the First Time

This is not the first time that a celebrity or superstar has come under fire for promoting crypto investments to a global audience.

Back in 2018, renowned American boxing champion Floyd Mayweather ran into trouble with the U.S. Securities and Exchange Commission (SEC) for promoting a fraudulent ICO.

Mayweather subsequently paid over $300,000 in fines while signing an agreement not to promote any securities, both digital and non-digital, for three years.

More recently, Spanish regulators warned legendary soccer player Andrés Iniesta that it is unwise to promote crypto investments after he was seen praising Binance.

Floki Inu Under Regulators’ Radar

The memecoin has been making waves in the past few months due to its rather “aggressive” marketing strategy.

Earlier in October, a group of anonymous Floki Inu promoters ran an ad via the U.K.’s Transport for London (TfL), leveraging the city’s Underground stations and buses to promote the token.

However, barely three weeks later, the British government banned those ads and prohibited any other crypto promo campaigns in the country, stating that they were “unethical.”

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Volatility, hyperinflation and uncertainty: How everyday Venezuelans are using stablecoins to protect their livelihoods

Last month, Cointelegraph interviewed Reserve CEO Nevin Freeman and the payment decentralized application’s community manager Yens Michiels about the company’s mission to provide access to stable currencies. More recently, Cointelegraph spoke to a couple of users based out of Venezuela and Colombia who shared their positive experiences with Reserve. 

Reserve is a tool to exchange fiat currency like Venezuelan bolivares for U.S. dollars via the Reserve (RSV) stablecoin. From everyday purchases to family remittances, Reserve has said that its use cases are increasingly growing in Latin America. After one year on the market in Venezuela, Colombia, Panama and Argentina, there are over 100,000 weekly app visitors and more than 8,000 merchants accepting it as a means of payment.

Sasha Antunez and Alicia Stephany are two Reserve customers who offered their perspective on the app’s role in their daily lives and on the economic situation in Venezuela. Antunez is a neurologist living in Maracay, Venezuela and a self-proclaimed “Reserve Ranger” who uses Reserve both at home and at work. Stephany is a Venezuelan living in Bogota, Colombia who uses Reserve to support her family members that still live in Venezuela.

Antunez explained how she uses Reserve for daily expenses:

“I have my Reserve dollars saved in the app. Suppose I have to go to the supermarket and I have around $20. I do the exchange so that I have bolivares in my bank account and can pay for everything at the supermarket. But I also know that I can take my bolivares, turn them into Reserve dollars, and then into USDT.”

Most customers use it to save their money. If they get paid in their local currency, they do not have to worry about its devaluation if it is in U.S. dollars. And if they need to buy something in a local currency, as Antunez described, they can always convert it back or pay directly with the RSV stablecoin if the merchant accepts it. Most don’t even realize that it has to do with cryptocurrency, like Stephany.

“The Venezuelan bolivar loses value so fast that if you have bolivares, you need to change it as soon as you can to protect them,” she explained, adding the example that if she’s in Colombia and her father is in Venezuela, but “I needed to pay for his things, then instead of only exchanging what I needed at the supermarket, I was always looking for someone to buy extra dollars from me. So, I convinced the people from the supermarket and the pharmacy I use to download Reserve.”

Related: Venezuelan international airport to accept Bitcoin payments: Report

The government introduced a re-denomination of the currency in October, the third one since 2008, in order to ease computations. The economy, however, had already been increasingly unofficially dollarized. This means that prices in stores are marked in dollars, corresponding to the black market rate rather than the official exchange rate, as more and more merchants use PayPal, Zelle or, now, Reserve. With Reserve, users can exchange currencies at rates closer to those of the central bank.

Couple this volatility with hyperinflation, and mistrust in the government and the banking system is bound to surge among citizens. When asked about the prospects of the economy getting better in Venezuela, Antunez said:

“I believe that technology will play a big part because cryptocurrencies allow financial freedom and free access for everyone. That’s how we need to address this situation, by giving people the tools to protect their money. Here, we don’t have any solutions, at least not right now. And I don’t see things getting any better. In the meantime, we’re just trying to protect the little money we earn from our jobs.”

At the time of publication, the project’s iPhone app was the No. 1 most downloaded app in the Venezuelan app store under the finance category. Binance and MetaMask, two other cryptocurrency trading apps, are among the top 10 as well.