NFTs, Bitcoin, Ordinals, Trends
With Bitcoin Hovering Near Its All-Time High and Ordinals Absolutely on Fire, Are ETH NFTs Dead?
My two cents. Hint: No.
Times are strange in the NFT and crypto worlds, frens. Bitcoin briefly hit an all-time high this morning, blasting through $69k for a short time before pulling back about 10% to $63k. Ethereum is hovering around $3,600+, by comparison — continuing its own climb back toward its own ATH of I believe in the neighborhood of $4.8k.
Both chains now have NFTs, of course, which is a new development since the last bull run. So whatever’s coming should be quite interesting. The previous bull run gave a ton of OG ETH stackers plenty to do with their idle ETH. What will OG BTC hoarders do with their stacks now that there’s something fun to do with that BTC?
The difference in the NFT scenarios here, I think, is that ETH was fairly accessible to normal non-whale types when ETH NFTs took off. When the Bored Apes minted, ETH was just a little over $2k, and anyone could get one for a few hundred bucks.
With Ordinals taking off, though, BTC is $69k and the top collections are already showing floors of 0.6+ BTC. Here’s the current floor of the NodeMonkes:
