The NFT collection Pudgy Penguins is currently one of the most demanded and valuable collections in the market. However, an unidentified investor recently sold several NFTs from this collection worth millions of dollars for only $175, sparking many discussions in the crypto community. According to XEER, the founder of ApeVentureVCs, this investor sold five NFTs from the Pudgy Penguins collection for $175 each, while the current value of each of these NFTs is around 21 Ethereum (ETH) or approximately $116.9k. As a result, this sale incurred a loss of almost $3.7 million for him. He hinted in a social media post that he might have mistakenly swapped 35 Stablecoins USDC for 35 Ethereum. The reason for selling these NFTs at such a low price is still unclear due to the anonymous nature of the seller. Some community members speculate that this sale could be to evade taxes. Some analysts believe this could be an attempt at tax evasion, with the intention of repurchasing these NFTs. However, no official explanation has been provided regarding this peculiar move. You can track the live prices of all tokens and cryptocurrencies on the momentary price page.
