Odaily News Trader Eugene stated that the leveraged ETH Beta concept always receives attention when the ETH trend is positive, but most altcoin Beta assets have the flaw of relying on ETH capital inflow. In the current market, where choices are too dispersed, NFTs, priced in ETH, can benefit from the rise without the market needing to dump ETH, which may make them a better Beta target. He believes that as ETH approaches its historical high, the market may be more inclined to speculate on NFTs, a situation that has occurred in 2021. Currently, the only NFT series worth following are Punks and Pudgys.
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LongAndShortSuckers
· 08-09 17:52
Trader Eugene pointed out that while leveraged ETH Beta attracts attention when ETH performs well, most altcoin Beta assets rely on ETH inflows. The current market is fragmented, and NFTs benefit from being priced in ETH without the need to sell ETH, potentially becoming a better Beta target. As ETH approaches historical highs, the market may lean more towards speculating on NFTs, with series of interest including Punks and Pudgys.
Trader Eugene: NFTs may replace altcoins as the best Beta asset during Ethereum pumps.
Odaily News Trader Eugene stated that the leveraged ETH Beta concept always receives attention when the ETH trend is positive, but most altcoin Beta assets have the flaw of relying on ETH capital inflow. In the current market, where choices are too dispersed, NFTs, priced in ETH, can benefit from the rise without the market needing to dump ETH, which may make them a better Beta target. He believes that as ETH approaches its historical high, the market may be more inclined to speculate on NFTs, a situation that has occurred in 2021. Currently, the only NFT series worth following are Punks and Pudgys.