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Visa Purchases Punk #7610 For Almost $151K

Visa has taken another step in proving to the cryptocurrency community that it is determined to facilitate crypto exposure for its audience. Today’s blog announcement reveals that Visa has bought punk #7610 from a top NFT brokerage firm. Its goal is to grant its users access to it. Part of the blog post revealed that the punk set Visa back by almost 50 ETH or about $151K based on the current rate.

Visa Remains Committed To The NFT-Verse

According to the company’s official Twitter account, “Visa has been a collector of valuables for more than six decades of its existence. However, we are now in the NFT-verse, and we are pleased to announce that we have added Cryptopunk #7610 to our artifact assemblage.”

Commenting on the acquisition, Visa’s lead crypto expert revealed that learning is the first reason the company bought this NFT. He further explained that “it is becoming increasingly likely that there won’t be any sector that will do without NFT in the nearest future. However, we desire to have a thorough knowledge of how things work in this space before we establish our global presence there.”

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He also said Visa is anticipating several use cases in the long-term and short-term as it is already happening in the music and sports industry. Following the announcement by Visa, several NFTs on the Cryptopunk marketplace are being sold pretty fast. There are no low-priced NFTs again there; the lowest now costs about 64 ETH (about $213,000). 

Earlier this month, the lowest-priced punks rose to about 35 ETH courtesy of an anonymous buyer who bought almost 90 punks in one fell swoop. It is estimated that the prices of these punks have doubled since the start of August, especially when you consider the rising price of Ethereum.

3 NFT Tokens Rise Significantly

Since attaining a peak price early march this year, Chiliz’s price has remained within a declining parallel channel – a range known for corrective systems. As of this writing, CHZ is making its third attempt to break out of the resistance range. Even though there is a slight bearish divergence, the MACD, RSI, and other technical signals indicate bullishness.

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A breakout at this price will mean a new target of $0.59. Meanwhile, Sandbox token has broken its declining resistance range following March 29 peak price. Since making this break early last month, it kept rallying till it eventually attained a peak price of $0.855 later in the month.

But SAND developed an upper wick to confirm the $0.79 range as its resistance. Despite being on a decline since late last month, it fluctuated slightly and confirmed the $0.586 level as support.

The RSI, MACD, and the stochastic oscillator indicate bullishness. If it eventually breaks out of this new resistance, it would be on its way to a new peak price. Another NFT token on the rise since the start of last month is the Axie infinity token.

However, it started trading around a range on July 21, but it set a new peak price 12 days ago when it surged past $76.

Shelly Melancon (Switzerland)

Shelly is a cryptocurrency enthusiast from Switzerland, she bought her first crypto in 2015 when it was way less popular then it is today and since 2017 she has been writing about cryptocurrency for online news portals. Shelly is the newest addition to the Tokenhell team, she writes mostly news and reviews related articles , stay tuned to her posts to stay up to date with the crypto world.

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