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ECB Governing Council member Stournaras: There is a high probability of an interest rate hike in June.On May 27, local time, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with Kyrgyz Foreign Minister Kurubayev on the sidelines of the UN Security Council high-level meeting in New York on May 26. Wang Yi thanked Kurubayev for making the special trip to New York to attend the high-level meeting, stating that this not only demonstrated support for Chinas initiatives but also provided a platform for Kyrgyzstan to play its role. China and Kyrgyzstan have always trusted and supported each other. China is willing to work with Kyrgyzstan to fully implement the consensus reached by the two heads of state, strengthen the alignment of development strategies, promote mutually beneficial cooperation, enhance international collaboration, and jointly build a closer China-Kyrgyzstan community with a shared future. China highly appreciates Kyrgyzstans long-standing constructive role in the China-Central Asia mechanism and will fully support Kyrgyzstan in hosting this years SCO summit.On May 27, local time, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with Thai Deputy Prime Minister and Foreign Minister Norodom Sihasak in New York on the sidelines of the UN Security Council High-Level Meeting. Wang Yi thanked Sihasak for attending the high-level meeting, stating that China and Thailand are both defenders and practitioners of multilateralism, and participants and beneficiaries of the global governance system. Thailand proposed a more strategic, forward-looking, and sustainable "Thailand Diplomacy 2.0," and China welcomes Thailand playing a greater role on the international stage, jointly committed to revitalizing and activating the United Nations, promoting reform and improvement of global governance, and contributing to the cause of peace and development for mankind. China appreciates Thailands firm adherence to the one-China principle and is willing to strengthen high-level exchanges with Thailand to further strengthen the "China-Thailand family" bond. Both sides should accelerate the formulation of a new version of the China-Thailand Strategic Cooperation Joint Action Plan, comprehensively plan cooperation in all fields, and promote new achievements in building a China-Thailand community with a shared future. China supports Thailand and Cambodia in adhering to dialogue and consultation, consolidating the ceasefire, gradually rebuilding mutual trust, and peacefully resolving disputes, and is willing to continue to play a constructive role in this regard.On May 27, local time, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with Colombian Foreign Minister David Villavincensio on the sidelines of the UN Security Council high-level meeting in New York on May 26. Wang Yi thanked Villavincensio for attending the high-level meeting and stated that China will support Colombias presidency of the Security Council in June. Under the strategic guidance of the two heads of state, China-Colombia relations have made breakthrough progress, especially since Colombia joined the Belt and Road Initiative a year ago, with pragmatic cooperation yielding fruitful results and bringing tangible benefits to the people of both countries. China has always viewed and developed China-Colombia relations from a strategic perspective, supports Colombias domestic peace process, and appreciates Colombias long-standing adherence to the one-China principle.On May 27, local time, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with UN Secretary-General António Guterres on the sidelines of the UN Security Council High-Level Meeting in New York on May 26. Wang Yi stated that this year marks the 55th anniversary of the restoration of the Peoples Republic of Chinas legitimate seat in the United Nations. China highly appreciates the Secretariats firm adherence to the one-China principle and its compliance with UN General Assembly Resolution 2758. As a staunch supporter of the UNs cause, China is willing to continue upholding multilateralism, firmly safeguarding the international system with the UN at its core, and continuously deepening cooperation with the UN in areas such as promoting South-South cooperation, reforming the international economic and financial system, addressing climate change, artificial intelligence, and regional hotspots. China will support the UN with concrete actions, revitalize the UN, and strengthen the UN, continuously empowering global governance with Chinas governance model and injecting stronger impetus into building a community with a shared future for mankind. Wang Yi stated that since taking office, Secretary-General Guterres has upheld multilateralism, worked tirelessly for peace, and spoken out for justice, gaining international recognition. China appreciates this and invites Guterres to visit China this year.

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.