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① Iran 1. Iran is preparing a grand funeral for Ali Khamenei. 2. According to the Iranian Students News Agency: Iran has begun supplying liquefied petroleum gas (LPG) to Pakistan via its railway network, with goods arriving via specialized tanker trucks. 3. Sources: Irans attack on a US military base in Kuwait resulted in minor injuries to several Americans. ② Strait of Hormuz 1. The UK Maritime Trade and Operations Authority stated that the maritime security threat level in the Strait of Hormuz remains extremely high due to the blockade. 2. According to Irans Fars News Agency: In the past 24 hours, 20 ships passed through the Strait of Hormuz under the coordination of the Iranian Navy. 3. A suspected mine has been discovered in Omani territorial waters within the Strait of Hormuz; Oman has issued a navigation warning. 4. The US military confirmed that it struck a cargo ship attempting to reach an Iranian port. ③ Ceasefire Negotiations 1. US media: Trump tightened the terms of the Iran agreement; proposed amendments have been submitted to Iran. 2. Iranian negotiators: The Iran-US agreement has not been finalized; the proposed agreement allows Iran to set up an exit mechanism. ④ Other Situations: 1. Pakistans Foreign Minister coldly rejects the "Abraham Accords." 2. The Israeli Prime Minister orders control of 70% of the Gaza Strip; Hamas condemns the attack. 3. According to Alerta News 24, the latest Israeli airstrikes in Lebanon have killed 11 people, including a rescue worker. 4. Northern Israel suffers intensive attacks; Hezbollah claims to have launched 22 military operations; Israel tightens its northern civil defense policy to counter Hezbollah attacks. 5. According to Bloomberg, citing a source with direct knowledge of the situation, an Iranian ballistic missile attack on an airbase in Kuwait has slightly injured several Americans and severely damaged two US MQ-9 Reaper drones.On May 31, according to the New York Times, three officials revealed that US President Trump has tightened the terms of a potential agreement aimed at ending the war with Iran and sent these proposed modifications back to Iran for consideration. It is unclear what specific changes Trump made to the text of the agreement. Two officials said Trump was concerned about the parts of the potential agreement that involved unfreezing Iranian funds. He has been a vocal critic of former President Obamas approach in an agreement signed more than a decade ago to curb Irans nuclear program. One official said Trump was also disappointed by Irans slow response to the US proposals, which were reached through repeated consultations involving intermediaries including Pakistan. The official added that Trumps proposed modifications—a more stringent new proposal—may be aimed at accelerating the process by pressuring Iran to accept the framework agreement already submitted to its Supreme Leader Mojtaba for approval.On May 31, a meeting was held in Shanxi Province to deploy a special campaign to address safety risks and hidden dangers in coal mines. The meeting, held on May 30, was attended and addressed by Lu Dongliang, Deputy Secretary of the Provincial Party Committee and Governor of Shanxi Province. The meeting emphasized that the lessons learned must be heeded and the consequences of past mistakes must be absorbed. All levels of government and departments across the province must learn from these cases, be inspired by past mistakes, and remain vigilant regarding safety. They must strengthen their sense of urgency, responsibility, and mission in ensuring safety. The meeting stressed the need to always prioritize the people and their lives, and to thoroughly investigate and address safety risks and hidden dangers in the provinces coal mines with a firm resolve, ensuring the effective implementation of the "eight hard measures" for mine safety. The meeting also emphasized focusing on the coal mines with the most prominent problems and concentrated risks, adopting a "zero-tolerance" attitude to accurately investigate and severely crack down on illegal and irregular activities such as hidden working faces, falsified safety monitoring, unauthorized mining beyond permitted layers or boundaries, illegal subcontracting, and failure to implement major disaster management measures. We must fully cooperate with the State Councils accident investigation to thoroughly investigate the cause of the accident, as well as the responsibilities of local management, industry supervision, and enterprises. We must also focus on rectifying prominent problems such as the weak establishment of the concept of safe development, a lack of awareness of the rule of law, failure to implement the responsibilities of "key personnel," insufficient penetration of safety supervision, and lax and lenient law enforcement inspections at the grassroots level.On May 31, the Colombian Ministry of Foreign Affairs issued a statement on May 30, local time, stating that in response to the Ecuadorian governments earlier announcement that it would stop imposing a "safety tax" on Colombian goods, Colombia would lift its trade retaliatory measures against Ecuador and promote the normalization of bilateral economic and trade relations.May 31 - A Bloomberg survey of economists median forecast indicates that the U.S. unemployment rate will remain unchanged at 4.3% in May, while nonfarm payrolls will increase by 89,000. This increase would push the three-month average job growth rate to its highest level in over a year, sparking discussions about a continued acceleration in hiring. Forecasters expect the healthcare sector to maintain its strong momentum, while cyclical sectors such as construction, leisure, and hospitality will also see a recovery, with demand in these sectors likely benefiting from the warm weather of the past month. Manufacturing employment may also be boosted as consumers stockpile goods in anticipation of potential price increases following a potential conflict with Iran.

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.