EUR/USD 1.16341
-0.215%
Gold 4507.58
0.663%
Oil 58.618
0.632%
USD/JPY 157.879
0.650%
GBP/USD 1.34060
-0.254%
GBP/JPY 211.655
0.407%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Market news: Home Depot and Google Cloud have jointly launched the Agentic AI tool to help customers and employees transform projects from "how to do it" to "completed".Domestic News: 1. The "Tianma-1000" unmanned transport aircraft successfully completed its maiden flight. 2. Shanxi Province issued consumption subsidies for home appliances and digital smart products in 2026. 3. Hong Kongs new budget will be announced on February 25. 4. China Securities Regulatory Commission (CSRC): Focusing on cracking down on major, malicious, and key illegal activities, and severely punishing all kinds of malicious illegal activities. 5. Chinese Embassy: Due to scheduling conflicts, Wang Yis planned visit to Somalia on January 9 has been postponed. 6. Wang Yi held a telephone conversation with the Somali Foreign Minister: Opposing Somalilands collusion with the Taiwan authorities to seek independence. 7. National Business Work Conference: In 2026, efforts will be accelerated to cultivate new growth points in service consumption and optimize the implementation of the trade-in policy for consumer goods. International News: 1. A curfew has been imposed in Narathiwat Province in southern Thailand. 2. Israeli forces are reportedly planning a new round of attacks on the Gaza Strip. 3. British officials: The possibility of Britain deploying troops to Greenland cannot be ruled out. 4. South Korean Presidential Office: Will investigate the truth behind North Koreas claim of a "drone intrusion" and release the results promptly. 5. Iranian President: The government endorses peaceful protests and is willing to meet with protest groups. 6. Danish Parliament Chief: It would be "foolish" to go to war over Greenland. 7. Israel demands the EU designate Irans Islamic Revolutionary Guard Corps as a "terrorist organization." 8. US Media: Trump received a briefing on options for striking Iran but has not yet made a final decision; the government is considering multiple options for intervention in Iran. 9. Trump again pressures Cuba, threatening that if Cuba does not reach an agreement soon, it will face a situation of "zero oil and zero funds" flowing into Cuba. 10. Iranian Parliament Speaker warns Trump that any attack would lead Iran to consider Israel and US bases in the region as "legitimate targets" and strike them.On January 11, Cuban Foreign Minister Rodriguez posted on social media that the United States’ behavior was like “criminal and out-of-control hegemony,” threatening not only the peace and security of Cuba and the Western Hemisphere, but also the entire world.Supermicro Computer (SMCI.O) announced a collaboration with numerous industry partners to launch a smart store retail solution.Israeli Prime Minister Netanyahu: Israel is closely monitoring the situation in Iran and hopes that the country will soon be free from "tyranny".

Crypto Market Sell-off Delivers NFT Trading Volume Boost

Cory Russell

Apr 13, 2022 10:06


微信截图_20220413094918.png


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.

Suggestion