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1. Morgan Stanley: Powell may choose to ignore energy-driven inflation, posing a downside risk to the dollar. 2. Rabobank: With no signs of easing in the Middle East conflict, the dollar may still have room to strengthen further. 3. ANZ: The dollar has rebounded due to its safe-haven status, but this strength may be temporary as the currency remains overvalued. 4. TS Lombard: Believes the dollar is unlikely to see sustained appreciation at present, and will face further downward pressure in the next 3 to 6 months. 5. TD Securities: Remains committed to a weaker dollar forecast for 2026, citing waning US economic growth advantages, diminished safe-haven appeal, and a further intensification of "hedge against the US" trades. 6. HSBC: In the baseline scenario, if geopolitical premiums subside and the market returns to macroeconomic fundamentals, the dollar will resume its previous weakening trend. However, if energy inflation forces the Fed to return to a rate hike path, the dollar will experience an unexpected surge. 7. DBS Bank: Unless the Middle East conflict triggers an extremely severe long-term inflationary spiral and forces the market to completely erase expectations of two rate cuts in 2026, the US dollar will lack the unilateral upward momentum driven by the aggressive rate hike wave of 2022. March 18th - SMBC Nikko Securities economists stated that Bank of Japan Governor Kazuo Ueda is expected to avoid committing to a specific timetable for interest rate hikes at Thursdays press conference. However, if the summary of opinions from this meeting, to be released on March 30th, shows policymakers support further tightening, investors may further price in the possibility of an April rate hike. The market considers a 1% policy rate (currently 0.75%) to be still accommodative for the Bank of Japan, therefore, even a deterioration in the Middle East and increased global risk aversion are unlikely to prevent an April rate hike.On March 18th, Bei Chen Lin, Senior Investment Strategist at Russell Investments, stated that the fundamentals of the US economy remain solid, meaning the threshold for further interest rate cuts by the Federal Reserve is likely high. He anticipates only one rate cut in the second half of this year, or even none until 2027. Given that even if energy prices may temporarily push up inflation, a balanced labor market and subdued housing inflation set a ceiling on the upside potential, a rate hike this year is unlikely. He expects the Fed to keep interest rates unchanged this time, and any hints from Powell regarding the future path of interest rates will be crucial.The ChiNext index rose more than 2% intraday, while the Shanghai Composite Index is currently up 0.22%. Concepts such as computing power, memory chips, CPO, 6G, liquid cooling, and satellite internet led the gains, while concepts such as oilfield services engineering, liquor, fisheries, and grains led the declines. About 3,400 stocks rose and 1,900 stocks fell across the city.On March 18th, according to Tianyanchas intellectual property information, Hangzhou Alibaba Cloud Feitian Information Technology Co., Ltd. recently applied to register two "HICLAW" trademarks, categorized internationally as website services and scientific instruments. The trademarks are currently awaiting substantive examination. Hangzhou Alibaba Cloud Feitian Information Technology Co., Ltd. was established in March 2019, with Jiang Jiangwei as its legal representative. Shareholder information shows that the company is wholly owned by Zhejiang Alibaba Cloud Computing Co., Ltd. Public information indicates that HiClaw is a multi-agent collaboration system officially open-sourced by Alibaba Cloud in March, supporting multiple AI agents to collaboratively complete complex tasks.

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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