ETH Breaks Out, Benefits Big From NFT Craze
SEP 01, 2021 • 3 Min Read
Disclosure: Delphi Ventures and members of our team have invested in BTC, DPX, FTT, ETH, AR & SOL. This statement is intended to disclose any conflict of interest and should not be misconstrued as a recommendation to purchase any token. This content is for informational purposes only and you should not make decisions based solely on it. This is not investment advice.
Key Takeaways
While BTC takes a break after a run from the lows, ETH/BTC extends its gains amidst a multi-year technical breakout. Perpetuals funding remains low while price trends higher, which is extremely optimistic for ETH.
ETH annualized inflation craters to ~0.7% thanks to the EIP-1559. The burns have been mainly driven by the NFT mania. It appears that we like the JPEGs.
Arweave is an unexpected beneficiary from Solana’s retail-driven NFT mania. Solana’s NFT ecosystem taking off is likely due to smaller collectors being priced out of Ethereum NFTs.
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