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According to US financial media Semafor, the US artificial intelligence safety bill may be submitted as early as next week.On September 10th, according to futures market reports, crude oil prices generally trended upward this week, with the weekly average price rising compared to the previous week. According to JLC Network Technologys calculations, as of the ninth working day on September 10th, the average price of benchmark crude oil was $92.87 per barrel, with a change rate of 5.89%, indicating that domestic gasoline and diesel retail prices should increase by 330 yuan per ton. Based on the "ten working days" principle, the adjustment window for this round of prices is at 24:00 on September 11th. Affected by the escalating tensions between the US and Iran, the expected increase in retail prices may reach around 400 yuan per ton. In summary, if the conflict further escalates, a continued surge in international oil prices next week cannot be ruled out, leading to an increase in domestic refined oil retail prices, providing positive support for the oil market.A spokesperson for the European Commission stated that the EUs cybersecurity agency, ENISA, has been granted access to OpenAIs latest model, GPT-6-ASTRA.On September 10th, a spokesperson for the Pakistani Ministry of Foreign Affairs stated at a press conference that some Pakistani armed forces personnel are currently in Saudi Arabia for training and related logistical work. This is the first official confirmation of this information from Pakistan. The spokesperson stated that Pakistan and Saudi Arabia have a long-standing bilateral relationship and defense cooperation. According to the Mecca Mutual Defence Agreement, both sides and relevant countries will further advance relevant defense cooperation arrangements. The spokesperson noted that the Mecca Mutual Defence Agreement is a framework agreement, and specific procedures, mechanisms, and cooperation structures still need to be developed within its framework.The UK 2-year yield rose 2 basis points to 4.72%, the highest level since November 2023.

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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