《ETH/BTC Exchange Rate Rises to 0.038, Can the NFT Market Follow Suit?》
1. Recently, the ETH/BTC exchange rate has risen to 0.038, with market funds quickly flowing into the Ethereum ecosystem, driving a comprehensive rise in altcoins. Market sentiment remains high, as mentioned on 17/11 regarding several established altcoins (XRP, ADA, DOGE, XLM, and SAND), which have indeed performed very well in the short term.
2. This wave of market activity has also raised interest in whether the NFT sector will take advantage of the momentum. As the price of ETH stabilizes and rises, the liquidity in the NFT market may increase accordingly. With funds returning to Ethereum, blue-chip NFTs like BAYC, MAYC, and Pudgy Penguins are performing outstandingly, with both floor prices and trading volumes significantly rising.
- Especially for MAYC, the trading volume in the past 7 days reached 1024 transactions, with the floor price increasing by 86.8%, showing a strong intent for funds to return to blue chips. At the same time, BAYC's floor price increased by 63.1%, with 293 transactions.
- Doodles has performed exceptionally well recently, and since announcing a collaboration with classic McDonald's characters (such as Hamburglar and Grimace), both its IP value and market performance have soared. In the past 7 days, Doodles' floor price increased by 41.7%, showing an unusually strong performance.
- Pudgy Penguins and Lil Pudgys have also made impressive gains, with increases of 23.7% and 25.9% respectively, demonstrating market recognition of their IP and community.
With market funds pouring in, emerging NFT projects on the Ethereum chain may attract more speculators, especially in the current situation of ample hot money in the market, where popular minting activities could become the focus.
3. Summary
The rise in the ETH/BTC exchange rate is a significant signal of market confidence, which is also positive for the mid-to-long-term development of the NFT sector. In the short term, focus on blue-chip projects within the Ethereum ecosystem and emerging hot projects, and flexibly allocate funds to capture opportunities.