
The author notes that CryptoPunks are no longer considered a "flex," questioning the marginal buyer. This parallels the Bored Ape PFP trend in 2022, which saw its floor price drop 97%. Investors should be cautious of potential further downside in CryptoPunks due to diminishing social status and lack of new buyers.

By beaniemaxi
Crypto native since the early days. Went all in on DeFi summer. Then tripled down on NFTs. VC @gmcapital_. No paid promos. Not financial advice. I talk my book.