Does Ether already seem too expensive to you? Then think about where it will go after this ...

In 2020, only a few million users were buying and trading NFTs, until last March when artist Beeple placed one of his NFTs for $69 million.

Since then, the market volume of NFTs has skyrocketed, largely thanks to the OpenSea platform, which holds about 95 percent of them, according to The Block.

OpenSea's success is one of the reasons for ether's current bull trend, as users need to use this currency to create a portfolio of NFTs.

The link between OpenSea and ether's trend becomes evident whenever there is a general bearish wave on crypto.

The fact that ether suffers much less than other currencies from these declines is a sure proof that its trend is now misaligned, because it is closely linked to that of NFTs and no longer to that of cryptos in general.

But if this ether trend already seems very powerful to you, know that you haven't seen anything yet....

As of this month in fact, Coinbase is collecting pre-applications from those who want to sign up for its NFT marketplace (on this page).

It's not yet known when the new platform will be activated, but it's obvious that once NFTs are immediately accessible to Coinbase's 68 million users, this niche market will make a huge leap forward, perhaps approaching, as capitalization, the traditional art market, currently valued at over $50 billion.

The waiting list created by Coinbase is already yielding outsized results, with over 2.5 million people signed up in about a week.
Imagine when the number of users interested in NFTs increases 100 times over current users....

Just think of the prices ether will reach....

Just like the launch of the first bitcoin ETF, the upcoming launch of Coinbase's platform dedicated to NFTs will continue to push up not only ether, but the entire cryptocurrency market, increasing the odds of the year-end bang.

Thanks for reading.

Posted Using LeoFinance ^Beta