Ukraine Sells High Valued NFT CryptoPunk To Tame The situation

Ukraine Sells High Valued NFT CryptoPunk

The highly prized non-fungible token NFT CryptoPunk that Ukraine received as a gift in early March for its fundraising effort in its conflict with Russia has been sold.

The sale was disclosed via a tweet by the nation’s deputy minister of digital transformation. An unidentified buyer paid 90 ETH for the NFT. Prior to the price of ETH sharply declining in early March, The Punk was first transferred to Ukraine’s Ethereum wallet with an estimated value of up to $260,000.

Since making its wallet public in February, Ukraine has received more than $135 million in cryptocurrency donations, including $6.75 million from the sale of a single NFT of the Ukrainian flag.

Because of recent reports of fresh hiring, the value of NFT CryptoPunk has surged. Although the average miner may no longer be able to make a profit from mining Bitcoin (BTC), Marathon Digital Holdings says it will keep trying to amass the most valuable cryptocurrency.

Although the company is not immune to the macro climate, Marathon Digital’s vice president of corporate communications claims that the company is rather well insulated and well-positioned to withstand the present slump because of the low cost of operations and stable power prices.

According to Schumacher, the corporation has been concentrating more on producing Bitcoin and building up its cryptocurrency holdings in the hope that the asset will eventually continue to appreciate.

Marathon Digital Holdings claims it will continue to work toward acquiring Bitcoin (BTC), the most valuable cryptocurrency, even though the typical miner may no longer be able to earn money from mining it.

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Marathon Digital’s vice president of corporate communications asserts that despite not being immune to the macroeconomic environment, the company is well-positioned to endure the current downturn due to its low operating costs and steady power prices.

In the belief that the asset will finally continue to appreciate, the company, according to Schumacher, has been focusing more on creating Bitcoin and increasing its cryptocurrency holdings. In an effort to stop the former Terra developers from leaving the country, South Korean authorities have placed a travel ban on them.

More at: FXreviewtrading.com

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