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On September 8th, the Ukrainian State Emergency Service reported that on the evening of the 7th, Russian forces used drones to attack areas including the Boryspil district in the Kyiv region. Russia resumed airstrikes on Kyiv after a three-day hiatus. The Kyiv City Military Authority stated that air raid sirens had been issued in Kyiv due to the threat of "enemy" drones, and urged residents to seek shelter.Witnesses reported hearing explosions in Kyiv, Ukraine.September 8th - Japans economy grew faster than expected in the second quarter, further reinforcing market expectations that the Bank of Japan will raise interest rates next week. A report released by the Cabinet Office on Tuesday showed that second-quarter GDP grew at an annualized rate of 1.4%, higher than the previously estimated 1.1%. However, this result was lower than the median forecast of 1.8% by economists. This supports the Bank of Japans assessment that the Japanese economy is developing in line with its expectations and strengthens the necessity for the central bank to raise interest rates at its next policy meeting on September 18th.Artificial Intelligence: 1. Tencents Hy4 preview model has been upgraded, significantly reducing task rounds and input/output token consumption. 2. ByteDance is reportedly developing a real-time spatial video generation AI model, personally supervised by Zhang Yiming, with a release expected as early as next month. 3. The British King plans to host a high-level AI conference, with Jensen Huang and Demis Hassabis invited. 4. Chinas AI large-scale model usage has led for nineteen consecutive weeks, with a month-on-month increase of 379%. Tencents Hy4preview topped the list, while Xiaomis MiMo-V2.5 dropped off the list. Integrated Circuits (Chips): 1. Intel CPUs are reportedly set to increase prices by another 10% in early October. 2. Samsung is reportedly allocating half of its 4nm capacity to HBM4 base die production. 3. LPDDR6 production capacity is reportedly tight in the early stages of mass production; Xiaomis 18 Fold foldable phone will use Changxin and Hynix chips to ensure supply. 4. Huawei released the Mate XT 2 tri-foldable phone, equipped with the latest Kirin 9050 Pro chip, the first high-performance chip to adopt logical folding technology. 5. Lei Jun disclosed that the Xuanjie O100 and Xuanjie D100 will also be officially commercialized next year. New Energy Vehicles: 1. Reports indicate that Audi Chinas restructuring plan has been basically finalized: SAIC Audi will retain only AUDI, while the four-ring brand will be fully transferred to FAW Audi. 2. Xiaomis Pengcheng five-seater extended-range SUV N70 is priced from 209,900 yuan, and its seven-seater extended-range SUV N90 Max is priced from 269,900 yuan. Other: 1. Samsung is reportedly set to debut its self-developed humanoid robot in January 2027. 2. The Shanghai Institute of Optics and Fine Mechanics of the Chinese Academy of Sciences has made progress in the field of multi-dimensional multiplexed optical computing. 3. Unitree Robotics: Achieving the worlds first real-time driven fully autonomous humanoid robot combat using a world model. 4. Ministry of Industry and Information Technology: By 2030, a comprehensive and high-performance next-generation communication network will be fully established. Japans final reading for nominal GDP growth in the second quarter was 1.3%, below the expected 1.30% and the previous reading of 1.20%.

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.