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Canadas Minister of International Trade: The EU and the Trans-Pacific Partnership (TPP) have reached an agreement to advance a "historic" digital trade agreement between the two sides.Hang Seng Index futures closed down 0.78% at 24,637 points in overnight trading, a discount of 315 points.March 28th - According to foreign media reports, a senior Iranian official stated on Friday that the USs attack on Iran while simultaneously calling for negotiations is "intolerable." The official added that Tehran has not yet decided whether to respond to the US proposal due to the attacks on Irans industrial and nuclear infrastructure. The official further added that Irans response to the US proposal was originally expected to arrive on Friday or Saturday.On March 28, Minister of Commerce Wang Wentao met with Indian Minister of Commerce and Industry Ghoyar on March 27 during the 14th WTO Ministerial Conference in Yaoundé, Cameroon. The two sides exchanged in-depth views on China-India economic and trade relations and WTO reform. Wang Wentao stated that China and India are both important countries in the Global South, and the leaders of the two countries have reached a series of important consensuses on China-India relations. The two sides are important economic and trade partners, cooperating closely within regional and multilateral frameworks to jointly safeguard the interests of developing members and uphold international fairness and justice. The Chinese Ministry of Commerce is willing to work with the Indian Ministry of Commerce and Industry to follow the strategic guidance of the leaders of the two countries, leverage the "ballast" role of bilateral economic and trade cooperation, and welcomes Indias active participation in activities such as "Sharing the Big Market, Exporting to China," and to make good use of platforms such as the China International Import Expo and the China-South Asia Expo to expand exports to China.A senior Iranian official said that Tehran has not yet decided whether to respond to the US proposal, given the previous attacks on its industrial and nuclear infrastructure. The response was originally expected to be made on Friday or Saturday.

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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