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On August 4th, Mona Yacoubian, director of the Middle East program at the Center for Strategic and International Studies (CSIS), stated that Iran believes it holds the upper hand in its conflict with the United States after the Trump administration repeatedly postponed actions following its most severe threats. Yacoubian stated, "But every time Trump does this, Iran takes the message that the United States is weak and Iran has the advantage in this conflict." Yacoubian pointed out a recurring pattern between the US and Iran: military escalation, a declared diplomatic breakthrough that ultimately fails, and a subsequent return to a state of threat. She added that the US likely postponed its latest strike after its Gulf allies expressed concerns. Gulf states fear that if the situation escalates further, Iran will not hesitate to attack infrastructure and energy targets in the region.According to Israels i24NEWS: Several Iranian one-way attack drones attacked and hit a military base in northern Kuwait on Monday night.On August 4th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.1370%, and the lowest was 0.7360%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.0200%, and the lowest was 0.9010%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.0150%, and the lowest was 0.9010%.As of 09:30 Beijing time, WTI crude oil futures rose 1.00%, while US natural gas futures fell 0.22%.N Jialichuang opened 177.47% higher, reaching a market capitalization of 130 billion yuan.

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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