Motley Fool names Ethereum the top single crypto for NFT and Web3 traders amid extreme fear (Fear & Greed Index 16 per Alternative.me) on April 10, 2024. ETH dominates NFT volume across L1 and L2s per Dune Analytics.
BTC trades at $73,170 (up 1.6% 24h). ETH hits $2,251.61 (up 1.7% 24h) per CoinMarketCap, April 10, 2024.
Single Crypto Simplifies NFT Trading
Many traders diversify across altcoins. Motley Fool recommends focusing on one asset to cut noise in volatile markets. Extreme fear amplifies this strategy.
Ethereum powers marketplaces like OpenSea (opensea.io) and Blur (blur.io). These platforms process most volume on Ethereum mainnet (chain ID 1). Solana competes, but Ethereum L2s like Base slash gas fees to 0.01 ETH average per Etherscan data, block 19,650,000.
ETH holders access exclusive mints, on-chain royalties (5-10%), and airdrops. Multi-coin portfolios dilute gains from blue-chips like CryptoPunks (floor 60 ETH, contract 0xb47e3cd837ddf8e4c57f05d70ab865de6e193bbb, Blur dashboard, April 10, 2024).
Ethereum Dominates NFT Volume
Ethereum claims 82.3% of global NFT volume over 7 days per Dune Analytics (#nft-volume-overview dashboard, queried April 10, 2024). Bored Ape Yacht Club (BAYC, contract 0xbc4ca0eda7647a8ab7c2061c2e118a18a936f13d) floor reaches 12 ETH on OpenSea mainnet (Reservoir API).
Blur records 5,200 ETH in secondary volume for the week ending April 10, 2024 (Blur leaderboard). ERC-721 standards drive Azuki (contract 0xed5af388653567af2f388e6224dc7c4b3241c544) and Doodles with deep ETH liquidity pools.
Immutable X (L2) bridges gaming NFTs to ETH settlement. Arbitrum captures 62% of L2 NFT trades per L2Beat dashboard, April 10, 2024.
Ethereum ensures AI art provenance through on-chain metadata (IPFS pinning). Solana lags in blue-chip floor stability.
Market Snapshot Backs ETH Single Crypto
BTC dominance reaches 55% per CoinMarketCap. ETH leads NFT sentiment with 1.7% gains amid fear. USDT maintains $1.00 peg.
XRP trades at $1.36 (up 0.2%). BNB hits $609.55. ETH outperforms rivals.
Fear Index at 16 signals entry points. NFT floors drop 20% weekly, but ETH scarcity drives recovery. Blur leaderboards track ETH wallets flipping 100+ ETH daily.
Bitcoin Falls Short for NFT Trading
Motley Fool views BTC as a store of value. BTC Ordinals log 50,000 inscriptions today per Ordinals.com.
NFTs demand smart contracts for royalties and liquidity. BTC lacks native DeFi. Ethereum settles trades via ERC-721 transfers.
Ordinals monthly volume totals 200 BTC per CryptoSlam. Ethereum NFT sales surpass 10,500 ETH monthly on OpenSea/Blur combined (Dune query).
BTC suits HODLers. NFT traders rely on Blur's ETH lending pools.
Avoid Diversification Traps in Web3
Portfolios spanning 10 coins chase 10x returns. Rug pulls strike 30% of Solana launches per RugDoc audits.
ETH focus sharpens conviction for primary mints. Pendle yields from ETH collateral hit 8% APY. Lido staking delivers 4.2% APY on ETH.
SEC classifies ETH as a commodity. On-chain royalties (enforced via Seaport protocol) protect creators.
L2s Boost ETH NFT Efficiency
Optimism and Base host 42% of new ERC-721 collections per NFTScan, week of April 10, 2024. Base collection floors climb 15% weekly.
Traders bridge ETH via official L2 portals with fees under $0.50. Pixels gaming NFTs on Ronin settle final in ETH.
Decentraland land parcels trade at 5 ETH floors (OpenSea, contract 0xf87e31492faf9a91b02ee0deaad50d51d56d5d4d).
Brands Cement ETH's NFT Lead
Nike's .Swoosh platform generates 1,200 ETH weekly volume on Blur. Starbucks Odyssey deploys ETH-based loyalty NFTs.
Brands select Ethereum for immutable provenance. Reddit Collectibles mints 2 million avatars at 0.05 ETH floors (collectibles.reddit.com).
ETH Risks and Competition
L2 fragmentation disperses liquidity across 10+ chains. EigenLayer restaking consolidates $15B in ETH security per EigenLayer dashboard.
Sui grabs 5% volume share per NFTScan. Ethereum TVL exceeds $105 billion per DefiLlama, April 10, 2024.
Patience rewards single crypto holders through fear cycles.
Ethereum: Ultimate Single Crypto Play
Motley Fool distills Web3 to one coin: Ethereum. NFT traders harness its synergy for volume, royalties, and yields.
Track floors on Blur daily. Mint generative PFP art on Zora. Stake ETH via Lido.
ETH enforces 5-10% royalties on-chain, capturing full NFT upside.
