Analyst Predicts Major NFT Comeback This Market Cycle

A prominent crypto analyst predicts a major comeback for the NFT sector in the current market cycle.

Kaleo, a well-known figure in the crypto space, argues that NFTs are poised for a significant resurgence.

The analyst draws parallels to the late summer and early fall of 2020, when NFTs were relatively unknown and the focus was on DeFi projects.

He believes that, similar to how NFTs gained traction after Bitcoin’s price discovery, the sector could experience a revival with the right catalyst.

Kaleo dismisses concerns that the rise of memecoins might overshadow NFTs.

He suggests that the enthusiasm for memecoins indicates a high level of speculative interest in crypto assets, which could eventually benefit NFTs.

The analyst recalls that before NFTs gained widespread attention, similar speculative behavior was seen in platforms like PancakeSwap.