EUR/USD 1.14259
-0.130%
Gold 4145.48
-0.466%
Oil 70.214
2.393%
USD/JPY 161.910
-0.105%
GBP/USD 1.33724
-0.128%
GBP/JPY 216.519
-0.230%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On July 7, Chery Automobile announced on the Hong Kong Stock Exchange that it had entered into a vehicle sales framework agreement with Guangdong Ruixun Group. The agreement sets out the main terms for the Groups sales of passenger vehicles to Guangdong Ruixun Group. Guangdong Ruixun Group may only sell the relevant products in China on a non-exclusive basis.Sources say Russia’s largest oil refinery, the Omsk refinery, has suspended operations following a drone attack on Monday.July 7th - Robert Kavcic, an economist at BMO Capital Markets, stated that Canada has clearly emerged from two consecutive quarters of sluggish GDP growth, with a strong recovery in net trade, partly driven by rising oil prices. According to Statistics Canadas May trade report, exports rose 0.9%, a robust 26% increase year-over-year. Energy sales accounted for the majority of the growth. Despite weak sales in May, Kavcic expects net trade to still provide a meaningful boost to second-quarter growth, contributing up to 2.0 percentage points.On July 7th, Wang Weizhong, Secretary of the Inner Mongolia Autonomous Region Party Committee and Chairman of the Standing Committee of the Peoples Congress, and Bao Gang, Deputy Secretary of the Inner Mongolia Autonomous Region Party Committee and Chairman of the Inner Mongolia Autonomous Region Peoples Government, met with Sha Yan, Secretary of the Party Committee and Chairman of the Board of Directors of the Shenzhen Stock Exchange, in Hohhot. Sha Yan stated that the Shenzhen Stock Exchange will fully leverage its advantages to continuously strengthen practical cooperation with Inner Mongolia in areas such as cultivating high-quality listed companies, facilitating corporate financing channels, promoting the growth of listed companies, and bond issuance. The Shenzhen Stock Exchange will utilize the multi-tiered capital market to help the autonomous region develop its distinctive and advantageous industries, including modern coal chemical industry, new energy, computing power, and modern agriculture and animal husbandry, enabling more high-quality enterprises to leverage the capital market to grow stronger and larger, and making greater contributions to the high-quality economic and social development of the entire region.The Moscow refinery in Russia has resumed oil processing.

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