When Will Ethereum NFTs Bounce Back?

Many of Ethereum’s top NFT collections have been having a rough time. Why the bleed-out, especially when the wider cryptoeconomy has been heating up recently?

Well, a large amount of capital remained in Ethereum L1Ethereum is a global platform for decentralized applications and finance.View Profile” class=”stubHighlight”>Ethereum NFTs since the 2021 bull run. And over the past few months, new metas have surged to the forefront.

Think AI tokens, the Bitcoin Ordinals boom, the explosion of memecoins on Solana, the return of airdrop hunting, and the rise of Farcaster-driven L2 mints like Onchain Gaias on Base. 

This target-rich environment has nudged more than a few people to sell from their existing holdings, like Ethereum NFTs, to try chasing these newer, hotter metas. 

All that said, though, the Ethereum NFT scene still has a premium status and a bright future. New opportunities around crypto social and NFTfi will help ensure that. The recent Dencun upgrade also paved the way for more readily using L1 NFTs in L2s, a dynamic that will lead to all sorts of new powerful utilities. 

Plus, considering this current crypto bull market seems like it’s only just beginning, it’s no stretch to assume Ethereum NFTs will rally hard pretty soon. Plenty of collections here look like bargains right now, so it may be a great chance to sweep some floors!

In the meantime, get prepared by staying up to date—let’s get to the past week’s biggest NFT news highlights 👇

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