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Iranian Foreign Minister Araqchi: Israels withdrawal of troops from Lebanon and cessation of airstrikes against Lebanon are provisions of the interim agreement between Iran and the United States.Iranian Foreign Minister Araqchi: Our relationship with Iraq is very close.Iranian Foreign Minister Araqchi: I had a very good meeting with the Iraqi Foreign Minister.June 28th - According to Saudi media outlet Alhadath: The Iraqi and Iranian foreign ministers held a press conference in Baghdad. The Iraqi Foreign Minister stated that the Iranian Foreign Ministers visit was of great significance. Iran is an important neighbor of Iraq. Iraq has played a crucial role in communication between the US and Iran. He discussed many issues with Araghzi, including bilateral relations and the US-Iran memorandum of understanding. He emphasized the importance of opening the Strait of Hormuz and lifting the maritime blockade. The war and the blockade of the Strait of Hormuz have negatively impacted our economic situation. The closure of the Strait of Hormuz has disrupted Iraqs oil supply. Iraq does not support escalating the war, nor does it support aggression against Iran. The continuation of the war will lead to regional destruction. The region must protect itself.June 28 (Xinhua) -- According to sources in Manama, Bahrain, the Bahraini Defense Forces Command issued a statement on the 28th saying that Bahrains air defense system successfully intercepted and destroyed missiles and drones originating from Iran. The statement said that Iran continues to take hostile actions, launching missile and drone attacks against Bahraini civilians. All operational units and forces of the Bahraini Defense Forces are on high alert and fully prepared for defense. The Bahraini Ministry of the Interior issued a statement that day saying that the Iranian attack damaged a residential building in Muharraq province, but caused no deaths. Relevant departments are taking necessary measures on the scene.

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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