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On August 11, US President Trump stated on Monday that he and Federal Reserve Chairman Warsh have only had one "brief" conversation since Warsh took office, denying reports of frequent communication between the two. White House National Economic Council Director Hassett stated last week that the two "frequently discuss economic issues," but other sources familiar with the matter said their calls are irregular and infrequent. Earlier reports indicated that Trump had communicated with Warsh multiple times since Warshs confirmation as Fed chairman in May, inquiring about Warshs forecasts and views on the economic outlook. Trump reiterated his desire to lower interest rates but stated that he "100% supports" Warsh, emphasizing that Fed policy is decided jointly by the Board of Governors.Nvidia (NVDA.O) CEO Jensen Huang: (Regarding the $500 billion AI infrastructure financing plan) The related transactions will support the widespread application of artificial intelligence. The funds will all come from third-party capital.Trump Media Technology Group (DJT.O) reported second-quarter revenue of $1.7 million, a net loss of $238.1 million, and an adjusted EBITDA loss of $223.5 million.On August 11th, Nvidia (NVDA.O) announced a strategic partnership with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR to create an independent computing power financing platform. This platform will mobilize over $500 billion in third-party capital for the long term, supporting the development of artificial intelligence infrastructure. Nvidia stated that the new financing platform will transform Nvidias computing and full-stack AI infrastructure into a globally investable asset class, expanding access to AI factories, enabling long-term revenue linked to usage, and supporting Nvidias ecosystem growth in hardware sales and software applications.German Foreign Minister Waldfol: In a call with Iranian Foreign Minister Araqchi, I urged Iran to engage in constructive negotiations with its regional neighbors and the United States to end the conflict. The Strait of Hormuz must be opened unconditionally to ensure the free and safe passage of all ships.

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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