SNEAK PEEK
- Beeple, has high expectations from ETH and believes in its long-term utility.
- Based on his napkin math of 2018 and current state, he calculated ETH to touch $4500.
- Beeple said that a number of smart people are working on the ethereum blockchain to create real-world applications.
Beeple or Michael Joseph Winkelmann, an established NFT artist who surprised the NFT industry upon selling his NFT art for a stupendous amount of $69 million has utmost faith in Ethereum. According to him, ethereum’s potential has not been truly discovered and it can top $4500 quite easily.
Based on his recent tweet, he performed some sort of napkin math to calculate ethereum’s top and bottom prices in 2018. Based on the comparison between that particular math and present scenario of ETH, it can touch $4500.
i did some napkin math today about the eth local top in 2018 and then where it bottomed out at — versus where we are right now assuming a local top of approx. $4500.
don’t do that math for yourself. it only brings tears. 😭
— beeple (@beeple) June 3, 2022
The tweet was followed up by another tweet, wherein, Beeple shared his belief in ethereum for the long-term. He further stated never selling any ETH when the market was bearish.
Also Read: Sales Soar for Johnny Depp’s Ethereum NFT Post Defamation Trial
His tweet read:
that being said, i really truly believe in eth long term and have sold nothing during this downturn. there are so insanely smart people working on so many real world applications for this technology that i honestly think at 200B market cap it’s already oversold.
— beeple (@beeple) June 3, 2022
NFTs have been spreading their charm almost everywhere by attracting more and more artists into the space with their collections. A new collection of NFTs has created its buzz lately and is known as the GoblinTown NFT. Created last month, not only it is enjoying massive sales but has also replaced BAYC; thus, becoming the top-sold NFT in the last seven days.
