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The Ukrainian military stated that it attacked the Afipsky oil refinery in Russias Krasnodar Krai.German Chancellor Merz: Germany has enormous potential to restore its competitiveness.August 25th - German business confidence improved significantly in August, with the business climate index rising to 88.8, well above the market expectation of 87.2. The report shows a broad improvement in both current conditions and future expectations, indicating that the German economy is strengthening its recovery momentum after several months of gradual stabilization. The current conditions index rose to 88.5, higher than the market expectation of 87.0. The expectations index surged to 89.1, significantly higher than the market expectation of 87.5, indicating that businesses are more optimistic about the economic outlook for the next six months. This stronger data comes as the German economy has recently shown signs of increased resilience, including improved manufacturing activity and a rebound in business expectations. Recent survey data shows that the industrial sector has regained growth momentum, helping to offset the continued weakness in parts of the service sector, a point also reflected in the preliminary PMI reading.On August 25, the Electoral Affairs Commission (EAC) of the Hong Kong Special Administrative Region announced its provisional proposals regarding the boundaries and names of the geographical constituencies for the 2027 District Council general elections and launched a public consultation, which will last until September 24. The 2027 District Council general elections will be held at the end of next year. The Electoral Affairs Commission Ordinance stipulates that the EAC must review the boundaries and names of the geographical constituencies for the District Councils, formulate provisional proposals, conduct public consultations, and submit a report containing the relevant proposals to the Chief Executive.Germanys August IFO Business Expectations Index was 89.1, below the expected 87.4 and the previous reading of 86.7.

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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