While Bitcoin, Ethereum and other cryptocurrencies bleed, the NFT industry is blossoming—but it may be worryingThe former leader of cryptocurrency-related investment fund Ark Invest has shared his view of the current conditions of the cryptocurrency and NFT markets that both had been showing opposite results from each other.
According to the analyst, the rapid and unexpected spike of the NFT industry could act as a sign of an incoming long-term bear market as non-fungible tokens represent the illiquid and high-risk type of asset in the analogy with Ethereum-based ICONFT volumes & prices in Jan 2022 have been strong. Many say this shows how everything in crypto may not crash simultaneously again.
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Source: CoinDesk - 🏆 291. / 63 Read more »