Counterparty assets feel underpriced here.
RAREPEPE at $273,932 USD (69ETH).
Last sale: 29.99 ETH.
FDCARD at $293,731 USD (73 ETH).
Last Sale: 11 ETH.
After the rally in ETH and SOL NFTs there is still a single Counterparty project (Rare Pepe) in the top 10 by market cap. Sitting at a last sale market cap of almost half a billion ($415,095,288).
And the top NFT projects on ETH are worth 2x to 5x more.
That being said, the current run is partly driven by Counterparty Bitcoin NFT's being 10 years old, and that’s not something the major Ordinals/ETH/SOL projects can deliver at the moment.
So… are they underpriced or nah?
Ordinals feel underpriced here.
Bitcoin Puppets at $17k USD.
Nodemonkes at $13k USD.
After the rally in ETH and SOL NFTs there is now not a single Ordinals project in the top 10 by market cap.
And the top NFT projects on ETH are worth 2x to 5x more.
That being said, the current run is partly driven by token airdrop anticipation, and that’s not something the major Ordinals projects can deliver at the moment.
So… are they underpriced or nah?