BitMEX co-founder Arthur Hayes has declared that the OG NFT collection CryptoPunks will outperform Ethereum (ETH) in this cycle, citing internet status culture as the primary driver.
With NFT market volumes exploding and Ethereum showing bullish momentum, his forecast has ignited debate among analysts and collectors alike.
Scarcity, Status, and Sentiment
Hayes believes that as ETH gains institutional traction, holders will increasingly flex their wealth through digital art and status NFTs like CryptoPunks.

“Cryptopunks will outperform $ETH this cycle in $ terms bc $ETH bag holders will flex in NFTs,” he tweeted. “It’s an internet status game.”

According to the Maelstrom Fund CIO, the entire global economy is built on status, and the “internet society” is no different. His argument has resonated across the NFT community, with investor Parzival highlighting the scarcity factor:

“8,000,000,000 people on earth, 10,000 CryptoPunks. Do the math.”

Others, like digital ar

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