Analysis: NFT rally suggests traders are cycling out of Bitcoin and exploring other speculative plays in the crypto market
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Planet Daily News: The total market value of Non-Fungible Token has now exceeded $6.3 billion, nearly doubling from less than a month ago's $3.2 billion. Meanwhile, Bitcoin's market share has dropped by 6.6% to around 61%. Market analysts believe the return of Non-Fungible Token provides a signal that traders are cyclically exiting Bitcoin and re-exploring speculative behaviors in the crypto market. This means that once Bitcoin consolidates and investors begin to shift capital towards high-risk assets, Altcoins tend to show more aggressive trends. (DL News)
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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