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On July 16, Hengfu Holdings (00643.HK) announced that, at the companys request, trading in the companys shares on the Hong Kong Stock Exchange was suspended from 9:00 a.m. on July 16 pending the publication of an inside information announcement.On July 16th, Barclays analysts stated in a research report that Tencent Holdings (00700.HK) appears to have gained a first-mover advantage in certain segments of the enterprise AI agent field. Tencents first-mover advantage is particularly encouraging, as the success or failure of the competition at the intelligent agent layer may ultimately determine the winners and losers in the AI field. At the same time, Barclays believes that, thanks to its WeChat ecosystem, Tencent may be one of the few companies capable of launching near-general-purpose consumer-grade AI agents. However, analysts believe that Tencents progress in the AI field, aside from increasing related investment costs, will not have any direct impact on the companys financial performance in the short term.July 16th - Hyundai Motor Group of South Korea will acquire SoftBanks stake in Boston Dynamics. Through this transaction, Hyundai Motor Group will gain 100% ownership of Boston Dynamics. The simplification of Boston Dynamics decision-making and operational processes is expected to accelerate the commercialization of physical artificial intelligence technologies, including the humanoid robot "Atlas."July 16th - SK Hynix ADRs and its listed Korean ordinary shares are expected to be open for two-way conversion by the end of this month, but arbitrage trading previously anticipated by individual investors is unlikely to materialize. Although interchangeable in principle, investors may find it difficult to convert as freely as they would with ordinary shares. The Korea Securities Depository (KSD) stated on the 16th that the mutual conversion between SK Hynix ADRs and Korean ordinary shares will become possible after the 29th (the scheduled listing date of the newly issued Korean ordinary shares). However, the actual conversion process requires several conditions to be met. Converting Korean ordinary shares to ADRs can only be done within the ADR issuance quota set by the issuer. For example, if the ADR issuance quota corresponds to 1 million ordinary shares, and 900,000 shares have already been issued, only 100,000 shares remain available for conversion. Conversely, there is no separate issuance quota restriction for converting ADRs back to Korean ordinary shares. Industry insiders believe that individual investors will find it difficult to use this as a practical investment strategy. Converting ordinary shares to ADRs requires a separate application through a brokerage firm and involves procedures such as foreign exchange conversion. The procedures vary among different brokerages, so conversion cannot be completed instantly through mobile or online trading systems like with ordinary stocks.July 16th - According to South Korean media reports, the Bank of Korea raised its benchmark interest rate by 0.25 percentage points to 2.75% on the 15th. As South Korea enters a period of comprehensive benchmark interest rate increases, there are growing concerns that already rising loan interest rates may climb further. Previously, banks had anticipated a year-end interest rate hike by the Bank of Korea and accordingly raised their loan rates in advance. Data from the banking industry on the 15th showed that the annual interest rates for five-year fixed-rate mortgages at South Koreas five major banks (KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank, and NH Nonghyup Bank) ranged from 4.74% to 7.41%, with the highest rate approaching 8%. Compared to late May, the lower limit of the interest rate has risen sharply by 0.42 percentage points in just two months. This phenomenon reflects that market interest rates have already risen ahead of expectations of a rate hike this month; at the same time, due to regulatory restrictions on loan volume, banks incentive to maintain low interest rates has also weakened.

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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