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On June 23, Advanced Computing Technology announced that its next-generation self-developed interconnect bus, N200, has officially completed development. The N200 interconnect bus will be used in Advanced Computing Technologys next-generation computing chips, along with the general-purpose CPU core X200 and the intelligent computing AI core A200, and is expected to enter mass production in 2027.Market news: Abu Dhabi-based investment group MGX has raised approximately $50 billion to accelerate artificial intelligence transactions.On June 23, Russian Foreign Minister Sergey Lavrov stated that Russia is ready to resume negotiations with Ukraine from where they were interrupted, noting that the terms of a solution to the conflict were discussed and agreed upon nearly a year ago in Anchorage. However, he believes that this consensus has been shelved to buy time for Ukraine to rearm. Russian Deputy Foreign Minister Sergey Ryabkov also pointed out on the same day that Washingtons position has recently shown signs of deviating from the Anchorage consensus, but Russias position remains unchanged, and dialogue between Russia and the United States on the Ukraine issue has not been interrupted and will continue.On June 23, the National Artificial Intelligence Application Pilot Base (Industrial Software) officially commenced construction in Jinan, Shandong Province. This national-level public "driving school" and "testing ground" for "AI + industrial software" is a unified platform, featuring simulated workshops, computing power pools, and industrial datasets. This allows AI software to practice and be tested repeatedly under real-world conditions before being deployed in factories. The base focuses on three types of industrial software: R&D design, production control, and business management. It has identified over 100 industrial application scenarios and established partnerships with more than 20 companies, aiming to bridge the final gap between "usable in the laboratory" and "safe for use in factories."On June 23, Premier Li Qiang met with South Korean Prime Minister Kim Min-seok in Dalian. Kim was in China to attend the Summer Davos Forum. Li Qiang pointed out that China-South Korea trade cooperation has enormous potential, and China is willing to work with South Korea to make good use of mechanisms such as the bilateral economic ministers meeting to accelerate the second phase of negotiations on the bilateral free trade agreement and promote the expansion and improvement of bilateral trade. China and South Korea each have their strengths in innovation, and their industrial and value chains are deeply integrated. They can further promote alignment and mutual integration, fully leverage complementary advantages, consolidate and optimize cooperation in traditional industries, expand cooperation in emerging industries such as semiconductors, artificial intelligence, new energy, and biomedicine, and jointly seize new opportunities for innovative development. Both sides should deepen exchanges and cooperation in tourism, education, local affairs, youth, media, and think tanks to continuously enhance the friendship between the two peoples. Kim Min-seok stated that South Korea looks forward to working with China to implement the important consensus reached by the two heads of state, strengthen high-level exchanges and dialogues at all levels, expand cooperation in areas such as trade and economy, and high technology, accelerate the second phase of negotiations on the bilateral free trade agreement, and strengthen people-to-people exchanges in culture, tourism, and youth. South Korea welcomes Chinese enterprises to invest and do business in South Korea and is willing to deepen supply chain cooperation with China.

Crypto Market Sell-off Delivers NFT Trading Volume Boost

Cory Russell

Apr 13, 2022 10:06


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The crypto market sell-off has aided the growth of OpenSea NFT trading volumes.


Trading volumes on OpenSea fell in February and March as the crypto market rose.


As more mainstream businesses join the NFT area, the prognosis for the NFT market remains positive.

NFTs and OpenSea had a strong start to 2022, with trade volumes reaching an all-time high in January. The upward trend provided a positive picture for the next year.


ETH trade volume reached $4.97 billion in January, according to Dune Analytics statistics. The previous all-time high for OpenSea came in August, when trade volume reached $3.42 billion.


However, the crypto market's recovery from late January lows to early April highs was underwhelming in February and March.


Conditions in the NFT market look to be improving, with the recent crypto market sell-off providing support.

Trading on OpenSea with ETH under $3,000

March saw $2.49bn in ETH-based NFT trading volumes, down from $4.97bn in January and $3.58bn in February.


ETH trading volume is at $1.30bn. A continuing ETH decline would encourage demand for NFTs, notwithstanding the lack of a straight line.


After a January low of $2,161, ETH hit $3,500 in April before slipping down to sub-$3,000. ETH has declined in 6 of 9 sessions, with ETH-based NFT trading on OpenSea returning to sub-$3,000.


Because NFT trade volumes for Polygon (MATIC) and Solana (SOL) are so small, ETH remains the major emphasis.


This month's active traders have risen. From 546,145 in January to 451,767 in March, active ETH-based NFT traders. This month, there were 281,546 active ETH-based NFT traders.


Active traders may reach January's all-time high, boosting OpenSea and NFTs.

Beyond ETH Value's Influence on Trading Volume

Competition, illegal conduct, new NFT launches, and regulatory scrutiny will all have an impact on OpenSea trading activity.


LooksRare (LOOKS) debuted in January this year, and Coinbase is ready to join the NFT field via CoinbaseNFT.


Acceptance of fiat money as a form of payment will be a last important driver for NFT transaction counts. Coinbase and Mastercard announced a cooperation at the start of the year that would enable mainstream payments for NFTs.


The ability to accept mainstream payments eliminates the need for potential NFT collectors to open digital wallets and acquire cryptocurrency under risky market circumstances. The move by Coinbase to accept Mastercard payments may drive other NFT markets to do the same.


The good news for the NFT industry is that major corporations are continuing to investigate and join the digital asset market. Investors will be watching how Solana-based NFTs work for OpenSea.


However, there are also downside concerns, such as illegal activities and increasing governmental supervision. Regulatory monitoring must be helpful rather than punishing in order to make the NFT market more accessible. The actions of regulators on NFTs may be connected to unlawful activities in the NFT sector.

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