The Most Expensive Transaction on Ethereum Cost USD 23.5 Million

The Most Expensive Transaction on Ethereum Cost USD 23.5 Million

Today, crypto exchange Bitfinex paid USD 23.5m (ETH 7,676.61) in transaction fees for a transfer of close to USD 100,000 in tether (USDT) via the Ethereum (ETH) network, according to public transaction data on Etherscan.

The transfer was made at 11:10 UTC on Monday, and appears to have been sent from a wallet controlled by Bitfinex to a wallet belonging to DeversiFi, a non-custodial exchange spun off from Bitfinex in 2019.

“In transactions such as these, the fees are shouldered by third-party integrations with Bitfinex. This has also been confirmed by DeversiFi in their recent statement. We look forward to DeversiFi’s investigation and to their having this matter sorted on their side,” a spokesperson for Bitfinex told Cryptonews.com.

DeversiFi confirmed that “a deposit transaction was made using a hardware wallet from the main DeversiFi user interface with an erroneously high gas fee.” Per the company, they are “investigating the cause to determine how this occurred […],” while adding that no customer funds are at risk.

Judging from transaction data on Etherscan, the USDT transfer was made using the new EIP-1559 standard, which – among other things – is intended to improve the estimation of transaction fees on the network.

The transaction was made with what is possibly the largest transaction fee ever to be paid in crypto. Other incidents in the past include a USD 5.3m transaction fee paid on Ethereum by the small Korean P2P exchange Good Cycle. 
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Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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10 Most Expensive NFTs Ever Sold: Overpriced Scams or True Masterpieces?

10 Most Expensive NFTs Ever Sold: Overpriced Scams or True Masterpieces?

Key points

  • The NFT market, set to rebound in 2024, is projected to generate $2.37 billion this year with an annual growth rate of 9.10%, reaching a potential $3.36 billion in the next four years.
  • From its 2014 inception, the NFT market has achieved a total market capitalization exceeding $4 billion and witnessed all-time sales volumes surpassing $78 billion.
  • The diverse evolution of the NFT market, driven by trends such as metaverse integration and community-focused utility, expands its reach beyond gaming and art into virtual real estate and the music industry.

 

 

As we enter 2024, the non-fungible tokens (NFT) market experiences meaningful recovery, with Statista predicting that the market could make $2.37 billion this year and see an annual growth rate of 9.10%, potentially reaching $3.36 billion in the next four years.

Since the first NFT was ever minted in 2014, the market has seen a total market capitalization surpassing $4 billion and all-time sales volumes exceeding $78 billion, according to CoinMarketCap.

With prominent NFT collections such as Axie Infinity and Bored Ape Yacht Club (BAYC) oftentimes making headlines, what were the most expensive NFTs ever sold, and where is the market headed next?

In this article, we highlight the most expensive NFT sales ever.

The Diversity of the NFT Market

The real boom of the NFT market emerged at the end of 2017 with the launch of Ethereum-based blockchain games such as CryptoKitties and, later on, Axie Infinity, which have acted as stepping stones for many new investors who could now step into a niche market for digital collectibles while also playing a fun game.

However, over the past seven years, the NFT space has seen a great deal of change with virtual real estate and the music industry also joining in on the hype.

“A significant trend is the integration of NFTs with metaverse platforms, where they’re used for avatars, property ownership, and access to exclusive events. Another notable trend is the focus on community building and utility; NFTs that offer real-world benefits or membership in exclusive groups are increasingly popular,” Tyler Adams, the CEO and co-founder of COZ, told Techopedia.

Adams added that the emergence of the non-fungible item (NFI) technology allowed more people to enter the industry by enabling them to link the physical and digital realms.

“NFI technology is the door for Web3 mass adoption, enabling individuals to prove ownership of a physical item and authorizing specific actions on-chain or off-chain. It broadens the horizons for real-life applications, even to those with little to no familiarity in the blockchain sphere.”

However, the NFT market space continues to be highly dominated by art, celebrity, and athlete involvement as well as the gaming industry, Anndy Lian, the author of NFT: From Zero to Hero, added.

So, what is the most expensive NFT?

10 Most Expensive NFTs of All Time

COZ’s Adams explained that the most valuable NFTs often “share several commonalities.” One such similarity is that they are created by prominent artists or involve famous brands, such as Beeple’s Everydays: The First 5000 Days, sold for over $69 million.

“These NFTs often hold unique or historic significance, marking key moments in digital or artistic history. They also tend to receive high media attention, which drives up demand and value. Moreover, many of these groundbreaking NFTs introduce innovative concepts or employ technology in novel ways, setting them apart from more conventional offerings,” Adams said.

1. The Merge – $91 Million

The most expensive NFT sold is The Merge, the NFT collection created by digital artist PAK that was sold for $91,806,516 within just 48 hours following its release on 3 December 2021 on the NFT marketplace Nifty Gateway.

While being the most expensive NFT art, The Merge had also managed to break several other milestones, including becoming the largest-ever art sale by a living artist, be it a digital or physical copy.

 

2. Everydays: The First 5000 Days – $69 Million

Next on our list of most expensive NFTs sold is a digital artwork by Beeple, also known as Michael Winkelmann. Beeple’s Everydays: The First 5000 Days was actioned by Christie’s in March 2021 and was sold for $69,346,250.

The artwork was bought by Vignesh Sundaresan (Metakovan), a cryptocurrency investor and the founder of Metapurse.

3. Clock – $52 Million

Clock is a single NFT that counts how many days the founder of WikiLeaks, Julian Assange, has spent in prison.

The NFT is a collaboration between Assange and Pak and was sold for $52,740,000 on 9 February 2022. It was created to help fund Assange’s legal defense during court proceedings.

 

4. Human One – $28 Million

Another NFT by Beeple, Human One, is a hybrid digital and physical artwork that was auctioned for $28,985,000 on 9 November 2021.

A seemingly unique artwork, Human One, is said to be “the story of the first human born in the metaverse.” The NFT will continue to evolve throughout Beeple’s life.

5. CryptoPunk #5822 – $23 Million

CryptoPunks is a series of 10,000 unique pixel art characters created as NFTs on the Ethereum blockchain by Larva Labs. Each CryptoPunk NFT has a set of unique characteristics. Most CryptoPunks are human; however, some of the rarest pieces depict zombies, apes, and aliens.

CryptoPunk #5822 is one of nine alien punks in the collection, making it rare and valuable. The Chain CEO, Deepak Thapliyal, bought the NFT on 13 February 2022 for $23,700,000.

 6. CryptoPunk #7523 – $11 Million

The CryptoPunks collections have seen some of the most major NFT sales on the market, with CryptoPunk #7523 scoring number six on our most expensive NFTs list.

This is the only punk in the collection that wears a surgical mask and is another one of nine aliens. It was sold for $11,800,000 and is currently owned by Sillytuna, according to its listing on Sotheby’s.

7. TPunk #3442 – $10 Million

Inspired by the CryptoPunks collection, TPunk #3442 was bought for $10,500,000 on 31 August 2021 by Justin Sun, the CEO of Tron.

 

8. CryptoPunk #4156 – $10 Million

CryptoPunk #4156 is one of 24 apes in the CryptoPunk collection and was sold for $10,350,000.

9. CryptoPunk # 5577 – $7 Million

Another one of 24 apes from the CryptoPunks collection, CryptoPunk #5577, was bought for $7,700,000 by Compound Finance CEO Robert Leshner.

10. CryptoPunk #3100 – $7 Million

Last on our biggest NFTs list is CryptoPunk #3100, a headband-wearing alien punk sold on 11 March 2021 for $7.58 million.

What Goes Into Valuing NFTs?

Adams explained that valuing an NFT’s price can be a subjective, as well as objective case. While an artist’s reputation may come in handy (as seen with NFTs created by Beeple), other factors may also come into play when identifying the most expensive NFT ever sold.

“Much like commercial goods, scarcity and uniqueness are also crucial; limited edition NFTs or those with unique features often have higher values. The provenance or ownership history can add to an NFT’s allure, especially if previously owned by a celebrity or a notable figure in the tech world,” he said.

Lian added that an NFT’s supply and demand could also affect its future price and utility. Moreover, celebrity endorsements can also be crucial in establishing an NFT’s value.

“Celebrities can use their large and loyal fan bases to promote NFTs to a wider and more diverse audience. This can increase the awareness and interest in the project, as well as the potential buyers and collectors. Celebrities can also lend their reputation and influence to NFTs, making them more appealing and trustworthy to investors,” Lian said.

The Future of NFTs: Metaverse Integration & Enhanced Interoperability

Lian explained that metaverse integration is one trend that could drive the future of NFTs, enabling cross-platform interoperability, accessibility, and immersion. In addition, decentralized finance (DeFi) collaborations can further enhance the value of NFTs by providing new means of financing, investing, and trading them, further driving adoption.

Adams added that enhanced interoperability across blockchain platforms could further increase the utility and appeal of NFTs in the near future. He said:

“As regulatory frameworks around NFTs develop, the market might see increased stability and trust, attracting more institutional investors. Technological advancements, such as Layer 2 solutions, could lower transaction costs and improve sustainability, making NFTs more accessible and appealing. The integration of NFTs with AIAR, and VR technologies is also anticipated, potentially leading to new forms of interactive digital art.”

The Bottom Line

As the NFT marketplace anticipates robust growth in 2024, the value of the most expensive NFTs ever sold remains subjective, influenced by factors like scarcity, uniqueness, provenance, and celebrity endorsements.

With Pak’s The Merge taking the first place as the most valuable NFT at $91 million, other unique projects have also come forth, including a number of CryptoPunk pieces and Beeple’s works.

In the future, the NFT market is expected to embrace metaverse integration and enhanced interoperability, with the future of NFTs holding high promises.

 

Source: https://www.techopedia.com/most-expensive-nfts-ever-sold

FAQ

What is the current state of the non-fungible tokens (NFT) market, and what are the projected growth figures for 2024?

The NFT market is experiencing a meaningful recovery in 2024, with a projected value of $2.37 billion this year and an annual growth rate of 9.10%. Statista predicts that it could reach $3.36 billion in the next four years.

How has the NFT market evolved since 2017, and what are the key trends shaping its diversity?

The NFT market has diversified since 2017, with notable trends including the integration of NFTs with metaverse platforms, increased focus on community building and utility, and the emergence of non-fungible item (NFI) technology linking the physical and digital realms.

According to Anndy Lian, how is the NFT market currently dominated, and what sectors contribute significantly to its growth?

According to Anndy Lian and Tyler Adams, what trends are expected to drive the future of NFTs, and how might the market evolve in terms of technology and adoption?

Anndy Lian suggests that metaverse integration is a significant trend that could drive the future of NFTs, enabling cross-platform interoperability and immersion. Tyler Adams adds that enhanced interoperability across blockchain platforms, regulatory frameworks, technological advancements like Layer 2 solutions, and integration with AI, AR, and VR technologies are anticipated in the future.

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Who owns the most Jasmy crypto? High concentration among top 10 holders as price of Japan’s bitcoin plumbs new depths

Who owns the most Jasmy crypto? High concentration among top 10 holders as price of Japan’s bitcoin plumbs new depths

JasmyCoin (JASMY) has been on a bear run for over a year now, falling by more than 99% since peaking for the last time in May 2021. As of 11 November, the coin was valued at $0.0041.

Despite a downfall in JASMY price action, the token has been seeing a surge in active addresses. Let’s have a closer look at who owns the most JASMY crypto.

What is JASMY?

Jasmy is a Japanese internet of things (IoT) company that aims to make data sharing safer, and more decentralised and democratised. It specialises in the safe buying and selling of personal data. It was founded in April 2016 by Kunitake Ando and Kazumasa Sato, two former Sony executives, and Hiroshi Harada, a former employee at KPMG.

Harada, who serves as the platform’s CFO, told Binance in an interview in September 2022:

“Jasmy’s mission is to create a mechanism/platform which allows all users to take ownership of their own data in a secure and private manner. Instead of letting a handful of big tech corporations take control of such sensitive data, Jasmy aims to help enable a world where everyone can feel safe and secure about the use of their own data.”

The platform allows users to:

  • Store and control their data in a safe and secure environment
  • Safely and securely manage and control their devices
  • Provide safe and secure use of their data under clear rules

Jasmy’s Personal Data Locker (PDL) provides users with full ownership over their personal data while its Secure Knowledge Communicator (SKC) is responsible for the achievement of data democracy.

The platform promises to provide its customers with an IoT platform that will help them manage their IoT data securely and efficiently; IoT devices and services that will help customers with the development and maintenance of their IoT platforms and thorough data analysis which will be used for the further improvement of the platform.

Jasmy’s native token, JasmyCoin (JASMY), is used by companies that wish to purchase the users’ data stored on the platform. The token can also be used by users as investment, for governance and metaverse utility. JASMY was built on the Ethereum (ETH) ecosystem and is an ERC-20 token.

JASMY was launched at the end of October 2021 and has been dubbed  as “Japan’s bitcoin”.

JASMY supply explained

According to data provided by CoinMarketCap, JASMY has a maximum and total supply of 50 billion coins. This makes the coin a deflationary asset, similar to bitcoin (BTC), due to the limit on how many coins can be mined.

As of 11 November 2022, the token had a circulating supply surpassing 4.7 billion and a market capitalisation of $19.4m.

JASMY was Japan’s first ever legally approved cryptocurrency as the country had imposed a strict regulation for this market. It was listed on the Japanese crypto exchange BITpoint on 27 October 2021.

The cryptocurrency was met with a lot of enthusiasm upon its launch, skyrocketing by more than 230% in four days from $1.3024 on 12 February 2021 to $4.2929 – an all-time high following its listing on the crypto exchange Gate.io.

After the fast surge, the token lost over 58% of its value falling to $1.7851 by 22 February 2021, but managed to regain 67% of its value soon after, reaching $2.9628 on 2 March 2021.

JASMY grew past the $2 barrier once again on 9 March 2021 as the platform announced it had joined GitHub, thus providing a space where its users could discuss upcoming projects, news and bugs.

JASMY to USD chart, February 2021 – November 2022

JASMY to USD chart, February 2021 – November 2022

Source: CoinMarketCap

By 5 May 2021, however, the coin lost around 50% of its value, falling to $1.0965 before seeing a mini-surge on the following day and rising to $2.1586. The bullish price action did not last long. The coin entered a bear run, falling by 95% in the following weeks and reaching $0.05456 on 20 June 2021.

Since then, the coin was unable to reach previous highs, falling by an additional 92.4% to $0.004122 as of 11 November 2022.

Who owns the most JASMY crypto?

In the past two months, JASMY lost over 57% of its value, falling from $0.009717 on 10 September 2022 to $0.004122 on 11 November 2022. Despite the continued bear trend, token concertation among the top 10 JASMY holders remained high.

Data published on Sanbase showed that the number of active JASMY token addresses spiked to 673 on 30 October from 224 the day before. The number of active JASMY holders spiked once again on 9 November to 719 from a low of 273 on 7 November 2022.

So, who has the most JASMY tokens? Data provided by etherscan.io showed that there are 36,169 JASMY holders in total. The 10 biggest JASMY holders, as of 11 November, collectively owned 51.33% of the total token supply in circulation, meanwhile the top 100 owned 85.44%.

The website noted that the top account holding the most JASMY tokens was the world’s biggest cryptocurrency exchange Binance (BNB). Binance owned 23.43% of the total supply, which amounted to 11.7 billion JASMY coins worth around $48,500, as of 11 November. It’s likely that the exchange is holding the tokens on behalf of its users.

The second on etherscan’s top holders of JASMY list was crypto exchange Mexc.com. It owned 5.86% of the total supply, amounting to 2.9 billion tokens. Mexc.com could own JASMY tokens on behalf of its users.

The third biggest JASMY account was Jasmy Deployer which held 4.8% of the tokens’ total supply amounting  to 2.4 billion coins. The fourth and fifth biggest JASMY holders were two anonymous wallets holding 4.12% (1.34 billion coins) and 2.7% (1.29 billion coins) of the tokens’ total supply respectively.

Analyst views on Jasmy’s tokenomics

Knowing who owns the most JASMY tokens can be of use to many retail investors and traders, Anndy Lian, chief digital advisor at the Mongolian Productivity Organisation and author of ‘NFT: From Zero to Hero’, told Capital.com:

“The concentration of tokens on exchanges on leading exchanges such as Binance is a confidence booster for many retail investors.

“JASMY has gained interest from some of the biggest names in Japan’s technology industry. Pansonic and VAIO have also partnered with JASMY. During the COVID-19 pandemic, the largest call centre in Japan, Transcosmos, used JASMY to secure its data. The big names using JASMY’s technology are a really attractive selling point for retail investors.”

Lian added that for JASMY to truly grow, the firm would need to showcase its technology and focus on revenue.

“After all, they are the first legally compliant Japanese crypto coin listed on the Japanese cryptocurrency exchange. Japanese law strictly governs cryptocurrency transactions subject to Financial Services Agency inspections. Being accountable by Japanese law, they need to walk away from fluff and hype and concentrate on real business first.”

Please note that analysts’ predictions and opinions can be wrong. The information about the biggest cryptocurrency whales and ownership concentration shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before trading. And never invest or trade money you cannot afford to lose.

 

Source: https://capital.com/jasmy-token-who-owns-most-jasmycoin-crypto

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j