Raoul Pal Predicts 'Parabolic' ETH if ETF Approved... NFT Surge to Follow New ATH

Raoul Pal Predicts 'Parabolic' ETH if ETF Approved... NFT Surge to Follow New ATH

Raoul Pal Anticipates 'Parabolic' ETH with ETF Approval, NFT Surge to Follow New ATH Prominent macro investor and CEO of Real Vision, Raoul Pal, has expressed his opinion on the potential impact of an ETH spot ETF approval on the cryptocurrency market. Pal took to his X (formerly Twitter) on Tuesday, stating that if demand is unleashed through an ETH spot ETF approval, it could trigger an epic 'parabolic' move in ETH's price action. He further emphasized the significance of the current network dynamics, including the staking of over 30% of ETH supply, rising network activity, ongoing burn, and negative issuance, which could amplify the price movement. Pal has consistently advocated for this narrative even during periods of market downturns. He believes that a new all-time high (ATH) in ETH's price would inevitably lead to a subsequent surge in the NFT market. This prediction aligns with the historical correlation between ETH's price performance and the NFT sector's activity. It's important to note that the approval of an ETH spot ETF remains subject to regulatory considerations and timelines. However, Pal's insights offer a valuable perspective on the potential implications for the cryptocurrency market. Investors and enthusiasts should monitor developments related to ETF approvals and the broader market dynamics to make informed decisions.