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According to a Nikkei survey, Japanese Prime Minister Sanae Takaichis approval rating has dropped to 66%.Domestic News: 1. 102 national standards will be officially implemented starting tomorrow. 2. MiniMax: Evaluating its listing on the Science and Technology Innovation Board. 3. The National Healthcare Security Administration released the 2026 National Medical Insurance Catalog Adjustment Work Plan. 4. Qiushi magazine published an important article by Xi Jinping entitled "Looking Ahead and Developing Future Industries." 5. British Foreign Secretary Cooper will visit China and hold the eleventh China-UK Strategic Dialogue. 6. The "Plan for Further Deepening the Reform of State-owned Assets and Enterprises (2026-2029)" has been issued. 7. National Bureau of Statistics: The manufacturing PMI in May was 50.0%, down 0.3 percentage points from the previous month. International News: 1. It is reported that the EU is considering suspending the dynamic adjustment of the price ceiling for Russian oil. 2. A US company is reportedly planning to test an upgraded humanoid robot on the battlefield in Ukraine. 3. The cruise ship "Hundius" has completed full disinfection and has been cleared to resume sailing. 4. Middle East situation— ① US media: Trump tightens the terms of the Iran agreement, with proposed modifications involving nuclear acquisition and the Straits of Hormuz. ② The Israeli military claims to have captured the Bofor Castle, a key strategic point in southern Lebanon. ③ Israeli Prime Minister: Israel will intensify its suppression of Hezbollah-controlled areas. ④ US media: Trumps modifications to the proposed agreement have led to a one-week extension of US-Iran negotiations. ⑤ Iranian Parliament Speaker: No agreement will be approved until the rights of the Iranian people are guaranteed. ⑥ Three offshore platforms at Irans South Pars gas field have resumed production. ⑦ Iranian lawmaker: The nuclear issue is not on the negotiation agenda; the focus is on completely ending the war. According to CBS News: As of Sunday morning, the mediators were still discussing the memorandum of understanding between the US and Iran.On May 31, CNN reported that officials said President Trump made changes to the proposed deal with Iran after meeting with advisors on Friday, extending negotiations by another week. The specific changes Trump requested are unclear, but officials said the president insisted on stronger language regarding Irans nuclear commitments and its assurances to reopen the Strait of Hormuz. As the dispute over the wording of the agreement continues, it remains unclear how these differences will be resolved. Previously, Axios and the New York Times reported on Trumps proposed changes.On May 31, White House National Economic Council Director Hassett stated on Sunday that the way the media reports economic news often leads to an overemphasis on the most serious problems at a particular moment. "One thing Ive noticed in the White House is that whenever a consumer price index looks a little disappointing, we just talk about that one thing," Hassett said during an appearance on ABCs "This Week." He was referring to gasoline prices and their impact on inflation. Hassett stated that everyone should look at the big picture, not just energy prices or a particular area of the economy that is temporarily experiencing difficulties. "What you should do is take these fluctuations in stride and focus on changes in real wages," he said. "If you look closely, youll see that increased employment, a rising stock market, and strong corporate profits are translating into higher wages."

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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