EUR/USD 1.13851
0.137%
Gold 4030.68
0.101%
Oil 69.945
-1.933%
USD/JPY 161.643
-0.095%
GBP/USD 1.32062
0.121%
GBP/JPY 213.474
0.039%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The EU oil coordination group says the situation is currently stable, mainly due to the reduction in global inventories over the past few months.The EUs oil coordination group will continue to monitor the security of the EUs oil supply and coordinate actions as necessary.June 26 – The European Central Bank (ECB) will discontinue approximately 40 regulatory guidelines for banks as part of measures to reduce the regulatory burden on the banking sector. ECB Executive Board member Heinz Ehrlich stated on Friday that the ECB had reviewed over 130 such documents “to make them more concise and easier to use.” He indicated that the cancelled documents were either outdated and replaced by new regulations, or no longer applicable, while others had been revised. Following the financial crisis, European authorities have sought to reduce the massive requirements imposed on banks to improve regulatory efficiency while maintaining the hard-won resilience of the financial system. However, European banks believe these reforms are still insufficient, as the United States is pushing for even greater regulatory deregulation by eliminating and reducing some requirements.June 26th - The National Medical Products Administration (NMPA) announced that the newly revised "Regulations on Registration and Filing of New Cosmetic Raw Materials and Data Management" has just been released and will officially take effect on July 15th. The new regulations will remove obstacles and difficulties in cosmetic raw material innovation, enhancing the efficiency and empowering the research and development of my countrys cosmetic industry. Li Yunfeng, Deputy Director of the Cosmetic Supervision Department of the NMPA, stated that the new regulations encourage companies to adopt new technologies and methods such as animal substitution testing, reducing international trade technical barriers and providing policy support for promoting the export of Chinese cosmetic products.On June 26, it was reported that certified public accountants (CPAs) play a vital role in maintaining market economic order and protecting the legitimate rights and interests of the public. The 23rd session of the Standing Committee of the 14th National Peoples Congress passed a decision on amending the Certified Public Accountants Law on June 26, which will take effect on January 1, 2027. This amendment to the CPA Law, while maintaining the basic framework and main systems of the current law, focuses on strengthening Party leadership, improving regulatory measures, and increasing accountability. It aims to address prominent issues in the CPA industry, such as audit fraud, promote the CPA industrys fulfillment of its "gatekeeper" responsibilities, and drive the industrys healthier development.

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