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An anonymous NFT collector has suffered a $10 million loss after selling one of the rarest CryptoPunks on Thursday. On-chain data shows that Punk #3100 changed hands for 4,000 ETH, translating to approximately $6.07 million via a private transaction on the official CryptoPunks marketplace. The NFT is one of just nine Alien Punks in the original 10,000-piece CryptoPunks collection created by Larva Labs in 2017. Recognized for its distinctive blue skin and bandana, the Alien Punk is part of the most sought-after group in the NFT space. Blockchain data from Arkham Intelligence shows that this particular NFT previously sold in March of last year for 4,500 ETH, then valued at more than $16 million. The sale ranks as the third most expensive single NFT transaction by dollar value. Just days after that transaction, Punk #7804 exchanged for 4,850 ETH worth roughly $16.42 million at the time, marking the second-largest deal in the collection’s history. However, due to Ethereum’s price drop over the past year, Thursday’s 4,000 ETH sale amounted to just over $6 million, resulting in the seller making a $10 million loss from the transaction. While the parties in the exchange remain unidentified, Etherscan records show that the purchasing wallet received 4,001 ETH from an account labeled “Coinbase Prime 2” shortly before the sale. Alien CryptoPunks continue to dominate the top end of the NFT market. They are the rarest type in the collection, even more than the 88 Zombie Punks or the 24 Ape Punks. The top seven of the highest-value on-chain CryptoPunk sales involve these variants. Despite their status, CryptoPunks have not been immune to the broader downturn in the NFT market. Data from NFT Price Floor shows that their asking price has dropped nearly 43% in the last three months, currently sitting at $71,031. This figure marks a notable decline from the collection’s peak in November 2021, when the figure exceeded $400,000. Originally offered for free in 2017, the digital assets have evolved into cultural symbols of the early NFT era. In 2022, the intellectual property rights were acquired by Yuga Labs, creator of the Bored Ape Yacht Club. Earlier this year, speculation swirled about a possible sale of the product’s IP. However, Yuga Labs co-founder Greg Solano dismissed the rumors, stating that while many parties had approached the company, there were no plans to divest any time soon.

Babylon Labs has officially launched Babylon Genesis, the first-ever Layer-1 blockchain secured by Bitcoin. Babylon Labs (BABY) just announced that Babylon Genesis Layer-1. This launch follows the initial Phase 1 rollout in August 2024, which introduced Bitcoin ( BTC ) staking through self-custodial contracts. Since the initial launch, the protocol has attracted 49678.65 BTC ($4.06B) staked in self-custodial contracts. According to DefiLlama , Babylon currently ranks second in Total Value Locked among restaking protocols, after EigenLayer . With today’s launch, the project enters Phase 2. This stage includes the full release of the Genesis blockchain, the activation of core infrastructure such as validator nodes and finality providers, and the debut of the BABY token, which is now available for transfers and staking . Eligible users will receive airdropped BABY tokens directly to their wallets, and both transferring and staking the token are supported from day one. The final phase, Phase 3, will introduce additional Bitcoin-Secured Networks, enabling other blockchains to access BTC staking security and liquidity via Babylon Genesis Layer-1. Babylon offers a unique way to stake Bitcoin in that it allows users to lock their BTC in self-custodial contracts while maintaining ownership. Unlike traditional staking, where assets are handed over to a smart contract or custodian, Babylon’s method ensures full control remains with the user. If a participant, like a validator or finality provider, acts dishonestly, their staked BTC can be “slashed” (partially penalized), similar to Proof-of-Stake blockchains. “Bitcoin OGs really care about custodying [their] own keys, having control over [their] own financial decisions,” said Spencer Yang, co-founder of Fractal Bitcoin, in an interview . The blockchain is secured by validators staking BABY token and finality providers staking BTC for extra security. Looking ahead, one major feature to look out for is a trust-minimized bridge between Bitcoin and Genesis, called BitVM2. This will enable BTC to flow into the Babylon ecosystem without relying on multisig setups, using slashing and cryptographic techniques to enforce trustless behavior.

Teucrium’s 2X Long Daily XRP ETF made its trading debut on NYSE Arca, pulling in $5 million in volume on launch day alone. The product, which is structured to double XRP’s daily price movement, stood out sharply in a slow-moving market where most ETFs struggle to get attention. This debut didn’t just slide in quietly. Bloomberg Senior ETF Analyst Eric Balchunas said the fund’s volume lands it comfortably in the top 5% of all new ETFs ever launched. That’s no small feat for any product, especially one linked to a digital asset still tangled up in the long shadow of regulatory uncertainty. $XXRP (2x XRP ETF) saw $5mil in volume on Day One, very respectable, esp considering the mkt conditions. That puts it in approx top 5% of new ETF launches, and about 4x what the 2x Solana ETF $SOLT did (altho both 200x less than King IBIT). pic.twitter.com/u3QQq5yuHv — Eric Balchunas (@EricBalchunas) April 8, 2025 The timing is far from random. Ripple’s courtroom drama with the U.S. Securities and Exchange Commission is nearing a conclusion, and there’s a growing lineup of traditional finance giants aiming to get in on the XRP action. Institutions are clearly warming up. Compared to its peers, the ETF’s launch was something of a thunderclap. The Solana 2X ETF (SOLT), which hit the market earlier, barely made a splash in comparison. It drew in roughly one-quarter of XRP’s opening volume. That gap points to investors’ rising appetite to bet on XRP’s next big move. However, it wasn’t all roses. Balchunas offered perspective, saying that while XRP’s numbers are strong, “it pales compared to BlackRock iShares Bitcoin Trust ( IBIT ),” which had a debut volume crossing $1 billion. In other words, XRP is punching above its weight—but still in a different ring than the heavyweights like Bitcoin. Teucrium is charging a 1.85% management fee on the fund. It’s meant for quick trades, not long-term holders, and comes with warnings baked in—namely, XRP’s price swings and usage volatility, which could shake returns. While the Teucrium fund leads the way, for now, the ETF pipeline for XRP is growing thick. Franklin Templeton, managing $1.5 trillion in assets, filed recently for a spot XRP ETF on Cboe. They join a list that includes WisdomTree, Bitwise, 21Shares, Canary Capital, and Grayscale. That’s a big wall of Wall Street names trying to get a slice of the action. Grayscale’s proposal goes a step further. They’re looking to convert their XRP Trust into a full-blown ETF via the NYSE. With Ripple dropping its cross-appeal against the SEC, the road looks clearer, though not yet fully paved. Brazil has already moved forward. Hashdex’s XRP ETF was approved by regulators there and now trades on the B3 exchange. The market reacted fast—XRP shot up 6% on that news, a strong sign that investor optimism is reaching beyond U.S. borders.

Between April 1 and April 8, over $1.2 billion worth of Tether (USDT) flowed into centralized exchanges, primarily through the Tron blockchain. This movement suggests active repositioning by crypto traders during the recent market pullback, as per IntoTheBlock. Data from IntoTheBlock shows a steady increase in USDT inflows across major exchanges during the week. The trend peaked on April 7 with a day of strong net positive flow, meaning much more USDT entered exchanges than left. Specifically, net inflows approached $200 million on April 1, followed by a brief dip. Activity surged again around April 7 before cooling slightly on April 8. The bulk of these transfers reportedly occurred via the Tron network, a popular choice for stablecoin movements owing to its typically low fees and fast transaction times. Related: Trump Tariffs Shock Markets: Crypto Loses $100B, Bitcoin Price Unstable As the leading stablecoin pegged to the U.S. dollar, USDT is commonly held as a trading reserve. Therefore, seeing over $1.2 billion move onto exchanges often points to traders preparing for market activity. Two common interpretations exist: Traders may be looking to ‘buy the dip’ after recent market corrections or or they might need the stablecoins as collateral to cover leveraged long positions threatened by falling prices. Related: Engineered Recession Response? Theory Swirls as Tariffs Send Markets Reeling In a separate post , IntoTheBlock revealed that stablecoin activity expanded with daily active addresses surpassing 300,000. Additionally, on-chain volume reached $72 billion yesterday, marking the highest level since February. This general spike highlights increased reliance on stablecoins during volatile market periods. The rise in stablecoin inflows highlights increased trading readiness and the strategic role of the Tron network in market operations. As volatility persists, more inflows may follow. Meanwhile, USDT Inflow may be a result of recession fears triggering a massive sell-off. Over $100 billion was reportedly wiped off the total crypto market cap since the start of April, with Bitcoin dropping near $74,700 and Ethereum testing $1,300 at points during the sell-off. The downturn follows President Donald Trump’s aggressive tariff policies, and JP Morgan raised the probability of a U.S. recession to 60%. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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