EUR/USD 1.15343
-0.062%
Gold 4401.56
0.768%
Oil 82.314
0.157%
USD/JPY 159.382
0.053%
GBP/USD 1.35053
-0.014%
GBP/JPY 215.255
0.039%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 12th, Foxconn announced its financial results, reporting first-half revenue of NT$4.65 trillion and net profit of NT$109.9 billion, driven by continued strong AI demand. Second-quarter profit increased by 35% year-on-year, exceeding analysts expectations. The earnings report showed that Foxconn achieved a net profit of NT$59.97 billion in the second quarter, higher than the average analyst expectation of NT$58.8 billion. Foxconns long-term outlook anticipates continued strong market demand, with robust AI demand driving full-year growth. It expects AI rack shipments to see double-digit quarter-on-quarter growth in the third quarter. Foxconn stated that it will continue to expand its global AI production capacity.Pakistan stated that it strongly condemns the Houthi attack on a civilian merchant vessel. The Houthi attack poses a serious threat to freedom of navigation, maritime security, and shipping in the Red Sea.Security sources say four drones attacked an Iranian Kurdish opposition camp near Erbil, Iraq, with no casualties reported so far.According to a related statement, Egypt has launched tenders for 14 oil and gas concessions.On August 12th, Morgan Stanley issued a report lowering its target price for Tencent Music (TME.N) from $10.5 to $10.1, while maintaining its "Market Perform" rating. The bank believes that the synergies from the Himalaya acquisition may become a variable during a relatively long period of competition and earnings downgrades; while accelerated share buybacks provide some downside support, the competitive landscape needs clearer explanation. The bank lowered its 2026-2028 earnings per share forecasts for Tencent Music by 3% to 7% to reflect weaker membership service revenue due to competition. The bank believes that the current price, equivalent to a 2027 projected P/E ratio of 10x and a P/E ratio of 6.6x excluding cash, is attractive, but a valuation reassessment will depend on an improved competitive landscape.

Crypto Market Sell-off Delivers NFT Trading Volume Boost

Cory Russell

Apr 13, 2022 10:06


微信截图_20220413094918.png


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.

Suggestion