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Been saying the same thing for a while now
NFT szn; but not like the last one
That was a once in a lifetime thing
Jul 20, 01:39
A lot of people are commenting "NFT szn".
If you look at the total NFT market cap, you see some recovery from the bottom, but we're still in the same range since 2023.
I think the reason it feels different is that the recent uptrend is concentrated in a few collections - so the total market cap is no longer a good indicator of how the NFT sector is doing.
The market cap of Pudgy Penguins did a 3x in the last three months.
For Moonbirds, it was a 9x.
CryptoPunks did a 2x, adding $800M USD to the total NFT market cap.
The next "NFT bull market" will likely not be a broad one with everything pumping.
Instead, we might see the few existing collections that have been building / are still relevant doing super well.
I even think we gonna see new ATHs because all the energy will be focused on them.
Also can’t neglect the impact of ETH/USD on this chat
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