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Price Rationale

I weight the 35-40 ETH comp and cultural appraisals downward because they lean on broad XCOPY maturation without exact-token demand, while the 5.5 ETH cycle mark is too close to the 2020 print and under-recognizes current category scarcity. The single clean sale was 5.2 ETH on 2020-08-31, with no current ask, bid, OTC sale, grail flag, or candidate set. Nearby stale 2020 anchors cluster around 4.5-8.5 ETH, but later non-grail XCOPY 1/1 evidence can sit far higher. A 22 ETH fair value, 14 ETH bid, and 32 ETH ask balances scarcity with poor liquidity.

What Caps The Price

The higher appraisals depend on broad artist status more than work-specific market proof. The source shows no fresh exact-token sale, no listed ask, no bid, no OTC print, no grail designation, and no candidate benchmarks. Without those, pushing toward 35-55 ETH would treat this as a validated cultural or comparable-sales winner despite thin evidence.

What Supports The Price

The cycle and exit appraisals are useful downside checks, but they overweight immediacy and stale USD translation. The 2020 sale was clean, early, and not a peak-cycle distortion, and the work remains a scarce SuperRare XCOPY 1/1. Valuing it near 5-12 ETH would ignore the post-2020 maturation of collector demand for original XCOPY one-of-ones.