The past month has seen top cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) make double digit gains and significantly increase their respective market capitalizations. Meanwhile new altcoins like NFT Token (NFTFN), are attracting interest from crypto enthusiasts and experts, who speculate a surge of as much as 50x in the coming months.
Bullish Momentum In The Market
After a disheartening crypto winter between 2022 and 2023, the crypto market rebounded in 2024. Armed with bullish momentum and an overall positive sentiment, Bitcoin and Ethereum surged 19% and 10% respectively, over the past four weeks. In March 2024, Bitcoin added a whopping $190 billion to its market capitalization. Meanwhile Ethereum’s market capitalization increased by more than $40 billion.
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NFTFN’s Potential Price Action
This surge is indicative of a bull run brewing in the broader crypto market, one with the potential to boost prices across the board. Another potential catalyst for the price of cryptocurrencies is the upcoming Bitcoin halving event. BTC halving is one of the most closely followed phenomena in the crypto market, given its impact on the price action of cryptocurrencies.
The impending bull run, combined with the bullish sentiment induced by the upcoming Bitcoin halving, is expected to provide a significant boost to the price of NFTFN. From its current presale price of $0.025, NFTFN could reach as high as $1.25 in the next bull run.
NFTFN’s Growth Prospects
NFTFN is a pioneer in the web3 fintech space that aims to revolutionize the non fungible token (NFT) market. With innovative products like SuperNova (SNV), NFTFN plans to take on the challenges in the NFT space and make blue chip NFT collections accessible to a wider range of ambitious investors.
The NFT market is currently valued at $10 billion. However, this figure is projected to witness significant growth in the coming years and reach $230 billion by 2030. With NFTFN’s focus on problems plaguing the NFT space, the project is posed to benefit from the growth of the broader NFT market.
Tokenomics & Strategic Partnerships
Crypto pundits have highlighted NFTFN’s well-planned tokenomics, which prioritizes long-term stability of the token. Only 20.3% of the total supply has been allocated for public sale, in a bid to control the token’s supply and restrict short-term price volatility.
Furthermore, NFTFN has entered into strategic partnerships with industry titans like Polygon and Binance Smart Chain (Blockchain Partners), Google Cloud Platform (Cloud Partner), OpenSea and BitsCrunch (Pricing Partners), etc.
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Source: https://coinedition.com/market-watch-bitcoin-and-ethereum-surge-ahead-as-nftfn-eyes-a-50x-profit-explosion/