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Reading: Kaleo says he’s currently “incredibly bullish” on some of the Top Ethereum-based NFT collections
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Live Trading News > Blog > Crypto > Bitcoin > Kaleo says he’s currently “incredibly bullish” on some of the Top Ethereum-based NFT collections
2022

Kaleo says he’s currently “incredibly bullish” on some of the Top Ethereum-based NFT collections

Paul Ebeling
Last updated: August 8, 2022 11:09 pm
Paul Ebeling
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#crypto #fork #merge #NFT #ether

$ETH $BTC $BCH

“A respected crypto analyst says that the new fork of Ethereum makes him very bullish on the NFT sector”–Paul Ebeling

The pseudonymous trader known as Kaleo told his 530,000 followers that he has got eye on Ethereum’s upcoming merge to its Beacon Chain, which already runs the proof-of-stake model.

While many look forward to Ethereum’s big update, some are critical of it, and discussions of a possible hard fork back to a proof-of-work (POW) chain post merge have risen.

In such a situation, Kaleo says that since all non-fungible tokens on Ethereum will presumably also reside on the new chain, NFT holders could essentially double their collections.

“Hypothetically – let’s say there’s a semi-viable ETH proof-of-work fork that emerges post merge (to make it easy going forward, let’s call it pETH).

Any ETH NFTs you own pre-fork, you now own on both chains.

…There will definitely be a decent amount of volume for NFTs on the forked chain if any DEX (decentralized exchange) supports pETH as the community begins to speculate which will be the dominant chain.”

Kaleo uses Bitcoin Cash’s (BCH) price action in Y 2017 when it was forked from Bitcoin (BTC) as an example. According to the crypto analyst, there was a momentary phase where BCH appeared to compete with BTC.

Since a proof-of-work fork of Ethereum could be viewed by some as the “original” (OG) version of the Top smart contract platform, Kaleo speculates that some investors may put more value on NFTs on the fork.

Because of this potential scenario, Kaleo says he’s currently “incredibly bullish” on some of the Top Ethereum-based NFT collections.

“To summarize, that’s one major reason why I’m still incredibly bullish on OG blue chip ETH NFTs heading into the merge and believe that there will be a surge in the current NFT market volume lull as these narratives continue to develop.”

The Knights Platform is an electronic network that links the trading floors of every relevant Crypto Exchange

Market participants, Brokers and market makers can take a price on any of the linked exchanges to find and execute the best price available. Eventually, as they are on boarded, a broker on the floor of one exchange could directly place an order through Knights rather than going through a broker on another exchange.

A tip of my hat to sovereign individuals with satoshis and Bitcoin in cold storage with our firm. Click here

Check Price Action

Have a prosperous day, Keep the Faith!

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By Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   
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