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On May 22, the National Development and Reform Commission (NDRC) held a press conference. Li Chao, Deputy Director of the NDRCs Policy Research Office, stated that the NDRC is currently planning to release supporting documents to accelerate the implementation of artificial intelligence (AI) and further strengthen resource guarantees. Simultaneously, the NDRC will continue to promote the opening up of high-value application scenarios by central and state-owned enterprises, creating benchmark AI applications across various industries, sectors, and regions, and accelerating the integration of AI into all aspects and stages of business management.On May 22, the National Development and Reform Commission (NDRC) held a press conference. Li Chao, Deputy Director of the NDRCs Policy Research Office, stated that Aprils prices continued the moderate upward trend seen since the second half of last year, sending a positive signal of improved supply and demand and optimized market order. Although the trend of international energy prices remains uncertain, the foundation for maintaining overall price stability in my country is solid. With the in-depth implementation of a series of macroeconomic policies, market supply and demand are expected to improve further, and prices are projected to continue operating within a stable range.On May 22, the State Council Information Office held a press conference to introduce the 4th China International Supply Chain Promotion Expo. The 4th Expo will be held from June 22 to June 26 at the Shunyi Hall of the China International Exhibition Center in Beijing, hosted by the China Council for the Promotion of International Trade (CCPIT) and organized by the China International Exhibition Center Group Co., Ltd., with the theme "Connecting the World, Creating the Future." Five international organizations—the United Nations Conference on Trade and Development, the United Nations Commission on International Trade Law, the World Intellectual Property Organization, the International Trade Centre, and the International Chamber of Commerce—continue to serve as supporting units. Australia will be the guest of honor country for the 4th Expo, marking its first official participation at the national level. This year marks the first time that foreign guest provinces have been designated: the Auvergne-Rhône-Alpes region of France and the Liguria region of Italy. The domestic guest provinces are Anhui Province and Hainan Province.On May 22, the National Development and Reform Commission (NDRC) held a press conference. Li Chao, Deputy Director of the NDRCs Policy Research Office, stated that opening up to the outside world is a fundamental national policy of China. We support Chinese enterprises in integrating into the global innovation network and conducting mutually beneficial international exchanges and cooperation. We have never required Chinese technology companies to refrain from accepting foreign investment. At the same time, foreign investment must also comply with Chinese laws and regulations and must not harm Chinas national security and interests. Chinas door to opening up will only open wider. We will continue to thoroughly implement the Foreign Investment Law and its implementing regulations, continuously create a market-oriented, law-based, and internationalized business environment, and effectively prevent and control risks.On May 22, Li Chao, Deputy Director of the Policy Research Office of the National Development and Reform Commission (NDRC), stated at a press conference that the NDRC will focus on the following three aspects in its next steps: First, it will expedite the issuance of relevant plans and implementation schemes to further coordinate the construction of the "six networks," clarify investment priorities in various sectors, break down targets and tasks into annual targets, and specify timelines and schedules. Second, it will intensify efforts to promote the construction of major projects, improve the dynamic promotion mechanism of "implementing a batch, preparing a batch, reserving a batch, and planning a batch," adhere to both quality and efficiency, accelerate the transformation and implementation, and promote the formation of more tangible work. Third, it will strengthen the guarantee of funding elements, make good use of various government funds and new policy-based financial instruments, stimulate private investment, strengthen the guarantee of land, environmental impact assessment, and other factors, and continuously unleash the investment potential of major infrastructure networks.

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.