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According to Saudi media Hadas, military sources said that the Yemeni National Resistance Navy destroyed a Houthi speedboat loaded with explosives in the Bab el-Mandeb Strait.August 22nd - Analysts say US President Trump is attempting to achieve what tens of thousands of bombs and missiles failed to do: force Iran to end the war according to US conditions by imposing a new round of sanctions, a naval blockade, and increased economic pressure on Irans trading partners. However, this old approach of "forcing Iran to submit" has a fatal flaw: Irans Islamic Revolutionary Guard Corps has effectively controlled the Strait of Hormuz and has repeatedly launched large numbers of attack drones towards the Persian Gulf. The Revolutionary Guard is largely immune to economic pressure and has ample means of retaliation. A key turning point in this round of US action is Monday, when Treasury Secretary Bessant will announce details of a new plan. This plan aims to shift the conflict from mutual airstrikes in the Middle East to comprehensive economic isolation. However, if the new economic pressure proves effective, Iran is likely to retaliate with military strikes, targeting energy facilities along the Persian Gulf coast, attempting to drive up oil prices, increase the cost of US action, and force Trump to change course again.According to Fox News, U.S. Trade Representative Greer stated that there are no plans for new negotiations with Canada.Ukrainian President Zelenskyy: He discussed the air defense shortage with French President Macron, and Macron agreed to expedite the delivery of the latest French equipment.Syrian Foreign Ministry: Israel’s continued attacks have exacerbated tensions and instability.

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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