Trader Eugene: NFT may replace altcoins as the best beta asset when Ethereum rises
12hours ago
Odaily Planet Daily trader Eugene stated that the concept of leveraged ETH beta always attracts attention when ETH is trending positively, but most altcoin beta assets suffer from the flaw of relying on ETH capital inflows. Given the current fragmented market, NFTs, denominated in ETH, can benefit from its upward trend without requiring a market sell-off, potentially making them a superior beta asset. He believes that as ETH approaches its all-time high, the market may become more inclined to speculate on NFTs, a trend that already occurred in 2021. Currently, the only NFT series worth noting are Punks and Pudgys.
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