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The rise of Ordinals in the NFT space is seen as a positive development for the Ethereum (ETH) ecosystem, potentially drawing in Bitcoin maximalists. There is anticipation of increased value asymmetry between ETH and Ordinals NFT ecosystems. Observations on the long-term bull case for Ordinals include comparisons to the ATH of NFTs on ETH in early 2021, highlighting significant volume and price levels. Speculation exists about ETH NFTs making a comeback later in the market cycle, driven by on-chain culture and growth in generative art and high-value profile pictures.
"All this has happened before, and all this will happen again" First ETH nfts had their moment in the Sun, then came SOL nfts, and now Ordinals (BTC) nfts. Will ETH & SOL nfts ever experience a resurgence? I'm willing to bet yes (bag bias aside) but it will need some…
ETH NFTs are going to make a massive comeback later in this cycle. As Ordinals cope settles in, ETH continues to pump, and on-chain culture lives on, growth for NFTs (gen-art and big pfps) will get back to 2021 levels.
While we're talking mean reversion, I'll do the same for ordinals vs eth NFTs. I still believe ETH market cap flips BTC when tradfi gets their ETF and can begin flows, which ultimately flow down to ETH NFTs. BTC is eating right now, and will continue to be up and to the right,…