Deepak Thapliyal, the CEO of Chain, the blockchain startup and crypto wallet provider, has bought the decentralized cryptocurrency exchange CryptoPunk #5822 for $23.7M. It was just a few days ago that this deal was announced on Twitter. This is not the first time that Deepak has bought a cryptocurrency or tokens with the intention to provide them to users as a part of their service.
Chain CEO, Deepak Thapliyal Buys CryptoPunk For $23.7M
Chain CEO, Deepak Thapliyal has recently bought CryptoPunk for $23.7 million. This was a major purchase as it shows the high interest in the company’s products. On Saturday, CryptoPunk #5822 was purchased by Chain CEO Deepak Thapliyal for 8,000 ETH ($23.7 million), smashing the previous record held by DraftKings. DraftKings is the largest shareholder Shalom Mackenzie who purchased CryptoPunk #7523 for $11.8 million back in June 2021. Thapliyal reportedly purchased the NFT from Larva Labs, paying for it with the Defi protocol, Compound Finance.
The purchase includes one of the rare 9 avatars from the 10,000 CryptoPunk collection. It is considered the OG’s of today’s non-fungible tokens. Because of its overall supply of 10,000 24*24 pixelated art images.
When you deposit your funds, you receive cTokens for the same value in ETH. Then used to take a loan without credit checks. As such, your deposit must be greater than the amount of the loan.
What is CryptoPunk
CryptoPunk is different from other platforms because it allows users to buy and sell cryptocurrencies directly. This eliminates the need for intermediaries, which makes it easier for users to buy and sell cryptocurrencies.
CryptoPunk is a digital asset management platform that has been designed to help people invest in cryptocurrencies and other digital assets. The company also offers a suite of products that help people to trade cryptocurrencies and other digital assets.
Deepak Thapliyal is a well-known figure in the cryptocurrency world. He is the founder of Coinsecure, one of India’s largest cryptocurrency exchanges. His experience in the cryptocurrency industry makes him a valuable asset to CryptoPunk.
Why did the Chain CEO buy Cryptopunk?
According to sources, the Chain CEO was looking for a new investment opportunity. He was drawn to Cryptopunk because of its potential to grow rapidly. Cryptopunk is a digital currency that uses blockchain technology to secure its transactions. This technology makes it difficult for anyone to tamper with the data.
Deepak Thapliyal is reportedly optimistic about the future of Cryptopunk and believes that it has the potential to become a major player in the cryptocurrency market.
What are the implications of this purchase on the industry?
Deepak Thapliyal, the CEO of Chain, has just made a purchase of CryptoPunk for $23.7M. This purchase is significant in the cryptocurrency market.
This purchase could have a number of implications on the industry as a whole. First, it shows the Chain is interested in becoming a major player in the cryptocurrency market. Second, it could lead to increased demand for CryptoPunk by other investors. Finally, it could lead to an increase in the value of CryptoPunk over time.
Conclusion
Chain CEO Deepak Thapliyal has invested in CryptoPunk, a blockchain startup. The investment is worth $.M and will help to improve the company’s technology and platform. CryptoPunk plans to use blockchain technology to create a secure digital identity system for users. This system will allow people to control their data and privacy online. Chain CEO Deepak Thapliyal is a well-known investor in the blockchain industry. He has already invested in several successful startups, including BlockCypher and Propy. His investment in CryptoPunk will help the company to grow its platform and technology further.
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