X @wale.moca 🐳

A lot of people are commenting "NFT szn".If you look at the total NFT market cap, you see some recovery from the bottom, but we're still in the same range since 2023.I think the reason it feels different is that the recent uptrend is concentrated in a few collections - so the total market cap is no longer a good indicator of how the NFT sector is doing.The market cap of Pudgy Penguins did a 3x in the last three months.For Moonbirds, it was a 9x.CryptoPunks did a 2x, adding $800M USD to the total NFT market ...