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What is NFT Wash Trading?

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What is NFT Wash Trading?

Although fictitious trades are often difficult to detect, there are notable examples of inflated NFT trades that have been used to manipulate market prices. On October 28, 2021, CryptoPunk 9998 was traded between two wallets for 124,457 ether (ETH), worth around $532 million at the time. The sale of the white-haired, green-eyed pixelated character was picked up by CryptoPunks Bot, which automatically tracks and advertises CryptoPunks transactions on Twitter.

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