Highest NFT Purchases in the Network Realized

The Ripple (XRP) ledger made history by setting a new record for the highest purchase of NFTs on the network on November 25, 2022. According to a Twitter announcement by onXRP, a modular ecosystem based on Ripple (XRP), the transaction resulted in the sale of 108,900 XRP of one of the non-exchangeable tokens (NFTs) in the XRPL Punk collection. The amount of Ripple (XRP) involved in the transaction was equal to $44,000 at the time of the transaction, making it the highest sale on the network.

According to XRPL PUNKS’ response to the announcement, the sale took place at an online auction on VC Discord, an event attended by more than 20 people. XRPL PUNKS did not reveal the identity of the person who bought NFT at such a high valuation. One of the most popular collections on XRPL is the Punks collection, also known as Xpunks.

“It was an auction with over 20 people at VC on Discord. We don’t want to reveal the name of the buyer, but the community knows who he is.”

The NFT line project pays homage to the already iconic NFT line called the CryptoPunks collection. The highly anticipated XLS-20 update was recently applied to the XRPL, and since then only Xpunks have exchanged 1.78 million XRP.

While XRPL appears to be performing well, XRP price is experiencing a steady decline to lows last seen in January 2021, before the November 2021 Bull Run begins. The token price is moving in sync with the current bearish sentiment that is eating away at crypto prices, wiping out more than $2 trillion of the entire market cap.

The current crypto sentiment is uncertain and highly volatile as FTX’s filing for bankruptcy sent Bitcoin (BTC) prices below the $20,000 support held since June 2022.

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