Raoul Pal, Real Vision CEO and well-known macro-investor, specific NFTs could see a strong revival as Ethereum (ETH) Momentum builds up to establish a new of all time (ATH). In a post on X pointed right on important NFT collections that could see a strong advantage if ETH reaches new peaks.
NFTs to take advantage of the momentum of Ethereum
Palm stated that he ‘forms an image’ that a renewed Ethereum -Bullmarkt will increase NFT assets that is closely linked to his ecosystem. Among those he mentioned were cryptopunks and bored Ape Yacht Club (Bayc), referring to their fame and cultural status.
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He also mentioned Meebits and Cryptodickbutts and described them as “cheap OG assets” with upward potential if the general market sentiment for NFTs improves. PAL believes that such an NFT rally would not only be driven by the rising value of Ethereum, but also by a shift in investors Focus back to these well-known collections.
Ethereum in particular is traded on 2,499, a loss of 3.7% in the last day. However, token has been an impressive run in the past month, after an increase of 56%. In the meantime, the price is still 49% low of its $ 4,891% of all time high on November 10, 2021. Analysts such as Virtual Bacon, however, expect to reach this bull cycle $ 10,000.
Cryptopunks, Bayc still dominates the market
The latest figures from Coetecko show that cryptopunks remains the most dominant NFT collection in terms of market capitalization. With a floor price of 46.59 ETH, around $ 115,900, it recommends 57% of the top NFT Dominance index. Although unchanged in the last 24 hours, the floor price increased by 3.9% a week.
The bored monkey hunting club has second place with a floor of 12.74 ETH, which translates to around $ 31,700. Bayc won 1% in 24 hours, but still fell by 6% in the week. Pudgy Penguins is in third place in dominance, priced at 9.93 ETH, although it saw a dip of 3.2% last day.
NFT -Market under pressure despite selected profits
Despite the optimism of PAL, the NFT market has struggled in the short term. The total NFT market capitalization fell by 5% to $ 4.46 billion in the last 24 hours, and the sales volume fell by 10.7%, fell to $ 5.66 million.
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Some collections, however, raised the trend. The sandbox lands with more than 42,000% in floor price, while Chrome jumped almost 24% by SnowFro in 24 hours. These movements suggest bags of investor interest, even in the midst of wider weakness.
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