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European Central Bank President Christine Lagarde: Europe cannot miss the artificial intelligence revolution.On August 19th, KPMG Chief Economist Yael Selfin stated in a report that although the UKs inflation rate rose to 2.9% in July from 2.6%, marking the beginning of a gradual increase in inflation, this is unlikely to prompt the Bank of England to raise interest rates. She stated that domestic price pressures in the UK are easing, and the inflation level is broadly in line with the Bank of Englands latest forecasts. Selfin also noted that, encouragingly, core inflation continued to slow in July, with the services sector inflation rate falling to 3.4% from 3.6%. Given the less weak labor market compared to 2022, rising energy costs are unlikely to trigger a significant second-round effect in the coming months. She stated, "We expect interest rates to remain unchanged for the remainder of the year."Futures News, August 19th: Shanghai Futures Exchange (SHFE) Energy and Chemical Warehouse Receipts and Changes: 1. Pulp futures warehouse receipts: 373,905 tons, down 515 tons from the previous trading day; 2. Pulp futures mill warehouse receipts: 20,000 tons, unchanged from the previous trading day; 3. Offset paper futures warehouse receipts: 2,758 tons, unchanged from the previous trading day; 4. Offset paper futures mill warehouse receipts: 6,520 tons, unchanged from the previous trading day; 5. Fuel oil futures warehouse receipts: 20,420 tons. 6. Petroleum asphalt futures warehouse receipts: 14,230 tons, down 10 tons from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 26,500 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 2,961,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 330 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.SK Hynix (SKHY.O) shares rose more than 4% in overnight trading on the US stock market, after falling more than 3% earlier, after the company announced formal approval for a 40 trillion won share buyback program.On Wednesday, August 19, the German DAX 30 index opened down 3.12 points, or 0.01%, at 26,148.57; the UK FTSE 100 index opened down 0.76 points, or 0.01%, at 10,727.28; the French CAC 40 index opened up 9.78 points, or 0.11%, at 8,519.14; the Euro Stoxx 50 index opened up 6.08 points, or 0.09%, at 6,474.25; the Spanish IBEX 35 index opened down 0.31 points, or 0.00%, at 19,934.59; and the Italian FTSE MIB index opened up 49.16 points, or 0.09%, at 53,067.00.

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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