The CryptoPunks NFT project sees price pressure in Ethereum terms while Bitcoin hits its highest point this year at $30k. Read on CE.
- Raoul Pal identifies buying opportunity for CryptoPunks amid ETH price pressure.
- NFT prices are expected to trend downwards due to ETH’s deflationary nature.
- Bitcoin hits the highest price point this year at $30k.
In a recent tweet, Raoul Pal, the CEO of Global Macroinvestor.com, highlighted that the prices of CryptoPunks, a popular NFT project, have been under pressure in Ethereum (ETH) terms due to tax season and Blur farming.
Pal noted that while the price in USD has remained stable at around $100k, the rise in ETH has caused distress for the asset’s holders. However, the tweet suggests that it could present a buying opportunity for investors who believe in the long-term growth of crypto.