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Trader Eugene: NFTs may replace altcoins as the best Beta asset during Ethereum pumps.
Trader Eugene pointed out that while leveraged ETH Beta draws attention when ETH trends positively, most altcoin Beta assets rely on inflows of ETH. The current market is fragmented, and NFTs benefit from being priced in ETH without the need to sell ETH, potentially becoming a better Beta target. As ETH approaches historical highs, the market may lean more towards speculating on NFTs, with series of interest including Punks and Pudgys.
ETH5.91%
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