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Price Rationale

Final valuation balances the comparable-sales and cultural readings against the lower liquidity and USD/ETH-cycle appraisals. The exact token sold onchain for 1.3 ETH / USD 356.22 on 2019-01-23, then for 12 ETH / USD 4151.28 on 2020-09-21, which is the supplied last and highest exact-token sale. Those facts are old and are preserved as historical ETH/USD sale evidence; because the ETH/USD snapshot is null, no current USD conversion is inferred. The 1400 ETH SuperRare ask started 2025-04-15 signals holder conviction but is not supported by a current best bid or recent exact-token execution. The only supplied candidate, Null started following you, is explicitly context-only and has a 1 ETH 2019 sale, so it informs theme rather than price. A 205 ETH fair value sits above the stale 12 ETH exact sale and above purely liquidation-biased marks, while remaining within the supplied early-2019 non-grail XCOPY context where relevant later executions include Breaker at 100 ETH, Afterglow at 128 ETH, When Airdrop? at 151.2 ETH, Death by Algorithm at 256 ETH, and $LAVE at 315 ETH.

What Caps The Price

A higher final mark would depend too heavily on the 1400 ETH ask, cultural-title salience, or stronger early XCOPY outliers rather than executable evidence for this work. The target is not flagged as a grail, has no current best bid, no OTC sale history, no post-2020 exact-token sale, and only one related candidate marked context-only. Values much above the low-to-mid 200s would begin to treat it like a cleaner recent 300 ETH plus comp or grail-adjacent work despite thinner direct support.

What Supports The Price

A lower mark near the liquidity and cycle floors would over-anchor to the stale 12 ETH / USD 4151.28 sale from 2020 and underweight the work's January 2019 SuperRare 1/1 provenance, long-term holder, strong Null/social-notification title, and supplied non-grail early-XCOPY sales that later cleared in the 100 to 315 ETH range. The absence of a current bid limits confidence, but it does not reduce a scarce early XCOPY 1/1 back toward its pre-2021 exact sale history.