Former Goldman Sachs Executive Details Major Crypto Opportunity in Ethereum (ETH) ‘Mega Trend’
Former Goldman Sachs CEO Raoul Pal says there is one major overlooked opportunity in the Ethereum (ETH) ecosystem.
The macro guru tells his nearly one million Twitter followers that CryptoPunks, one of the biggest NFT projects around, is starting to look appealing.
The Real Vision founder shares the floor price chart to CryptoPunks showing falling prices, which he says could be an opportunity for bulls.
“Punkers are getting very interesting… They have been holding in dollars at around $100k but in ETH. Tax season plus Blur farming has led to almost depressed prices.
As ETH rises over time, excess winnings are recycled into trophy assets, with lag. Same as traditional art when stock markets have been strong.
Low prices seem to be a possibility if you think crypto will rise a lot in the next few years, which I do.”
While some have trouble understanding how seemingly silly images can be so valuable, Pal says that ETH holders often like to take their profits and put them into NFTs to diversify and send social signals to the rest of the space.
In a recent interview with NFT artist FVCKRENDER, Pal says that NFTs are changing the game and allowing creators and artists to act as a new avenue for mass blockchain adoption.
“[Artists and creators] has engaged millions of people in blockchain. To be honest, artists are the people who really lead movements, whether musical artists or physical artists themselves…
This connection between physical and digital, these two worlds are merging. So it’s a learning. The second learning is the metaverse [and] how it will be the digital representation of everything in the future. How you can build brands from the ground up based on culture… To give artists their control back, I think that’s probably another megatrend that we can see in the future.”
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Featured image: Shutterstock/A. Solano
