t-r-e-n-d-e-r

Price Rationale

Final judgment places t-r-e-n-d-e-r at 76 ETH, using the three market/cultural/liquidity appraisals clustered at 72-85 ETH as the primary center while retaining the USD/ETH-cycle appraisal at 45 ETH as downside discipline. The exact token has clean SuperRare provenance, a 2019 primary sale at 1.05 ETH, and a non-peak 20 ETH resale on 2020-08-03, supporting a meaningful premium over stale single-digit same-era clears. However, it has no current ask, no current best bid, no OTC history, no grail flag, no supplied candidate benchmark set, and no post-2020 exact sale, so the final value stays below the stronger early-XCOPY cohort with recent 100+ ETH evidence or clearer canon status.

What Caps The Price

I reject a higher midpoint because the supplied evidence does not justify treating t-r-e-n-d-e-r as a 100+ ETH fair-value work: there is no live bid or ask, no OTC sale, no grail/public-standing flag, no candidate support, and no recent exact-token execution. The 80-85 ETH comparable and cultural appraisals are persuasive directionally, but pushing materially above them would over-transfer strength from better-known or more recently traded XCOPY one-of-ones.

What Supports The Price

I reject the 45 ETH USD/ETH-cycle midpoint as too low for the final mark because it underweights the broader repricing of credible 2019 SuperRare XCOPY one-of-ones and the fact that the 20 ETH exact-token resale was a clean pre-2021 mark, not a peak-cycle excess print. Thin liquidity warrants a discount and a modest bid, but not a return close to stale 2020 levels for a scarce early XCOPY 1/1 with clean provenance.