NFT resurgence may indicate capital is shifting from Bitcoin to other high-risk assets
Odaily Planet Daily News: The total market value of NFTs has now exceeded $6.3 billion, nearly doubling from $3.2 billion less than a month ago. Meanwhile, Bitcoin's market dominance has dropped by 6.6% to around 61%. Market analysts believe that the resurgence of NFTs signals that traders are gradually moving out of Bitcoin and once again exploring speculative activities within the crypto market. This suggests that once Bitcoin consolidates and investors begin shifting capital toward higher-risk assets, altcoins often experience even more aggressive price movements. (DL News)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Millionaire Dave Portnoy buys $1 million worth of XRP at the bottom
Barstool founder Dave Portnoy spends $2 million to purchase BTC, XRP, and other cryptocurrencies
The Crypto Fear Index has risen to 15, and the market remains in an "extreme fear" state.
Trending news
MoreCrypto prices
More
