EUR/USD 1.14894
0.030%
Gold 4367.50
-0.206%
Oil 93.010
-2.576%
USD/JPY 157.236
0.325%
GBP/USD 1.33945
0.007%
GBP/JPY 210.622
0.335%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to The New York Times, Coxon, a former researcher at Anthropic, recently participated in a gathering via video conference, meeting with dozens of top business leaders in New York.On September 21, according to China Electric Power News, on September 18, Qian Chaoyang, Chairman and Party Secretary of China Southern Power Grid Company, held talks with Robin Li, founder, chairman and CEO of Baidu Group. Qian Chaoyang expressed his hope that both sides would further strengthen regular communication and exchanges, deepen cooperation in areas such as model support, scenario-driven development, electricity-carbon computing collaboration, pilot-scale verification, industry-finance integration, and overseas markets, and jointly promote the deep integration of artificial intelligence and energy.U.S. Ambassador to the United Nations, Walz: Hope Russia and Ukraine will stop fighting.U.S. Ambassador to the United Nations, Walz: Trump has always been willing to engage in dialogue; Iran must return to the negotiating table.On September 21, Federal Reserve Chairman John Goolsby stated that he is open to the possibility that inflation is beginning to fall back to the 2% target level. He added that if there is strong evidence that inflation is falling back to 2%, he has no objection to cutting interest rates; however, if inflation fails to fall, then a rate hike will be necessary. "Currently, we dont have a jobs problem, but we do have an inflation problem," Goolsby said. "Im open to the view that the current inflation problem is not persistent, but rather stems from some kind of supply shock that is about to subside. But I want to see evidence that this shock is subsiding. Otherwise, we know very well what action we must take."

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