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X @wale.moca ๐Ÿณ
I've seen a few posts on the timeline about this pump in NFT floor prices being propped up by leverage and the potential dangers that come with it.So let's take a look at the big projects:Yes, we are seeing quite some leverage being used in Pudgy Penguins, Bored Apes, Azukis etc on Blur.TLDR: For example, people buy a Pudgy Penguin with 2 ETH instead of 16 ETH, take out 14 ETH in a loan.If the floor price goes up, you can sell the NFT for profit and pay back the 2 ETH loan + interest.If the floor price goes ...