CryptoPunks Hit $200k! Gondi’s Shady Loans or Just a Chandelier Bid Fiasco?

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Well, hold onto your digital hats, folks! The floor price of CryptoPunks has just blasted through the $200k ceiling like a rocket-powered grandma at a bingo hall! 🚀💰 Meanwhile, our pals at Gondi are getting roasted by traders who think they’re playing a game of “Who Can Bid Higher on a Chandelier?” online. 🎭💸

  • CryptoPunks floor price skyrockets past $200,000, hitting the highest peak of 2025 so far. Talk about a bull market! 🐂💥
  • NFT lender Gondi is accused of facilitating rafter bids, using PUNKS as collateral. Because why not? 🤷‍♂️

Gondi in the Hot Seat!

So, Gondi, the NFT lending marketplace, is under fire like a turkey on Thanksgiving! Allegations are flying that they’ve been facilitating “private loans” to help boost chandelier bids for PUNKS. I mean, who doesn’t want to bid on a chandelier, right? 😂

One trader even claimed that Gondi let one of its advisors, Gfunk (yes, that’s his name, folks), borrow ETH using PUNKS tokens as collateral. And get this: the tokens staked in the PUNKS staking contract didn’t even belong to Gfunk! Talk about borrowing your neighbor’s lawnmower without asking! 🌱🔧

“Gondi created a private loan for PUNKS tokens ahead of the 16 CryptoPunks auction. It was done so Gfunk (a Gondi Advisor) could borrow ETH against PUNKS tokens,” wrote Venture Capitalist and PUNKS collector Beanie on his X account. Sounds like a plot twist in a bad sitcom! 🎬

Gondi created a private loan for PUNKS tokens ahead of the 16 CryptoPunks auction. It was done so Gfunk (a Gondi Advisor) could borrow ETH against PUNKS tokens. The collateral used included tokens from the PUNKS staking contract. This enabled Gfunk to get funds to run up the bid.

— Beanie (@beaniemaxi) July 29, 2025

In a screenshot that looks like it was taken during a high-stakes poker game, the Gondi user vault showed a repayment with 194 ETH in debt. That’s right, folks, 194 ETH! It’s like borrowing your buddy’s car and returning it with a full tank of gas… and a dent! 🚗💥

On July 29, the floor price for the OG crypto collection of 10,000 unique CryptoPunks (6,039 male and 3,840 female) climbed well above the $200,000 threshold. This is the highest peak it has ever reached in 2025 alone! It’s like the CryptoPunks are throwing a party and everyone’s invited! 🎉

At press time, the floor price for PUNKS has gone up by 4.6% in the past 24 hours. That’s right, folks, it’s currently standing at 53.85 ETH or around $205,154 for one CryptoPunk! And guess what? Recently sold CryptoPunk NFTs have skyrocketed by 372.34% in just one day! Talk about a hot market! 🔥

According to data from CryptoSlam, 38 PUNKS were sold in just 24 hours, indicating a 375% increase in transactions for this renowned Ethereum NFT. The value of sales made in the past 24 hours has amounted to a whopping $8.44 million! That’s more than my entire life savings! 💸💸

“The collateral used included tokens from the PUNKS staking contract. This enabled Gfunk to get funds to run up the bid,” continued Beanie. Sounds like a classic case of “I’ll scratch your back if you scratch mine!” 🤔

He described the alleged stunt as being similar to how AAVE operators leveraged staked tokens to facilitate a loan. Which, let’s be honest, should not have been possible considering the admin keys to Aave were burned. It’s like trying to start a fire with wet matches! 🔥💦

This collateral-backed loan occurred before the CryptoPunks #16 auction, presumably giving Gfunk the ETH liquidity to actively bid or support the auction. So far, there have been no statements addressing the accusations. It’s like waiting for a sequel to a movie that never comes! 🎥

However, the official account recently posted a “Notable Loan” for a Wrapped CryptoPunk #2545, which originated from a 100,000 USDC loan. That’s right, folks, they’re handing out loans like candy on Halloween! 🍬

“That’s 5 Punk loans today alone. Liquidity isn’t slowing down, it’s accelerating,” wrote Gondi on its official X account. Sounds like they’re on a rollercoaster ride of liquidity! 🎢

Echoing this sentiment, the floor price for the CryptoPunks NFT continues to climb, reaching its highest level since March 2024. It’s like watching your favorite team win the championship! 🏆

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2025-07-29 11:40