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PFP NFT Resurgence

Jan 26, 2024 ⋅  6 min read

In recent months, the crypto market has shown signs of recovery, entering what appears to be a new bull market phase. This shift has highlighted some recurring trends, especially the notable increase in trading of PFP NFTs. An analysis of historical price data from the previous bull cycle, juxtaposed with current trading activity, suggests a potential correlation between cryptocurrency price movements and NFT market behavior, with increased NFT trading possibly indicating the peak of a market cycle.

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Ally is a Research Analyst on the Enterprise team at Messari. Prior to joining the team, Ally worked as a Structural Engineer at Magnusson Klemencic Associates. Ally graduated from the University of Illinois in 2018 with a master’s degree in Civil and Structural Engineering.

About the author

Ally is a Research Analyst on the Enterprise team at Messari. Prior to joining the team, Ally worked as a Structural Engineer at Magnusson Klemencic Associates. Ally graduated from the University of Illinois in 2018 with a master’s degree in Civil and Structural Engineering.