Former Goldman Sachs Executive Details Big Crypto Opportunity in Ethereum (ETH)

‘Mega Trend’

Former Goldman Sachs executive Raoul Pal says that there’s one big overlooked opportunity in the Ethereum (ETH) ecosystem.

The macro guru tells his nearly one million Twitter followers that CryptoPunks, one of the biggest non-fungi- ble token (NFT) projects in existence, are starting to look appealing.

The Real Vision founder shares the floor price chart of CryptoPunks depicting declining prices, which he says could be an opportunity for bulls.

House of Representatives happened in a mostly empty room during the local and uncontested session.

That means, so far, things are proceeding as Marathon Digital CEO Fred Thiel thought they would.

“In Texas, I’m confident that while this bill will likely pass the State Senate, I don’t think it’s going to make it out of the House intact,” he told Decrypt ahead of the vote.

If enacted, the legislation would curb benefits offered to Bitcoin miners in the state to reduce their power usage during times of high demand.

“Punks are starting to get very interesting… They have held up in dollar terms at around $100,000 but in ETH. The tax season plus Blur farming has led to near-distressed prices.

As ETH rises over time, excess gains get recycled into trophy assets, with a lag. Same as traditional art when stock markets have been strong. Low prices seem to be an opportunity if you think crypto rises a lot over the next few years, which I believe.”

While some have trouble grasping how seemingly silly images could be so valuable, Pal says that ETH holders often like to take their profits and put them into NFTs to diversify and send social signals to the rest of the space.