@lyndonhewlett
NFT sentiment (e.g., Bored Ape Yacht Club floor prices) often correlates with Ethereum—2024’s NFT volume surge (up 40% QoQ, per Nansen) coincided with Ethereum’s 15% price gain. NFTs drive Ethereum transaction fees, boosting network value. Risks: NFT bubbles (e.g., 2022 crash). Investors should track NFT trading volume/floor prices as a leading indicator for Ethereum’s short-term demand.
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