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On May 19th, fossil fuel industry executives pointed out that Australia must invest in producing more natural gas to avoid a domestic supply shortage by the end of this decade. Shell Australia Chairman Wake stated, "The Middle East conflict highlights the worlds dependence on oil and gas. Our country urgently needs more natural gas." Although Australia is one of the worlds largest exporters of liquefied natural gas (LNG), its east coast is expected to face a supply gap by the end of this decade. To address this gap and protect domestic consumers from high international prices, the government this month approved the much-opposed "Domestic Gas Reserve Scheme," requiring producers to reserve one-fifth of new production for domestic use. Santos CEO Gallagher criticized the scheme, saying it would lower prices in the short term but stifle investment and supply. "Capital only flows to where it feels safe. The industry needs to attract capital back to Australia."The performance of Hong Kong-listed AI application stocks diverged, with Zhipu (02513.HK) continuing its decline with a drop of 13%, MINIMAX-W (00100.HK) falling by more than 9%, and SenseTime (00020.HK) and Paradigm Intelligence (06682.HK) following suit.On May 19th, Moodys Analytics economist Stefan Anglick stated that Japans first-quarter GDP data did not provide a clear indication of the economys future direction. He pointed out that while the growth base is broad, these frequently revised preliminary figures should not be overemphasized. Anglick wrote that the outlook for the coming quarters looks extremely grim due to soaring commodity prices caused by the Middle East conflict. US tariffs, trade tensions, and increased competition remain threats. Domestically in Japan, weak real wage growth is a major drag. He stated that moderate fiscal support for households, defense, and strategic investment should prevent the economy from derailing, but increasing headwinds foreshadow a difficult year. Against this backdrop, the Bank of Japan may raise interest rates again this summer, but it will be difficult to justify further rate hikes.The local governor claimed that Ukraine attacked Russias Rostov-on-Don region.On May 19th, Chongqing Zongshen Motorcycle Industry Manufacturing Co., Ltd. issued a statement saying that after a comprehensive investigation, the company confirmed that the information circulating online regarding the low-price sale of its Cyclone AQS250 motorcycle is false, fabricated, and misleading. It was not released by the company, and the company has never authorized any individual or third-party organization to conduct related activities, nor has it ever issued or promised any policies or services related to the online rumors. "Regarding this illegal act of spreading rumors and suspected fraud online, the company has immediately secured all evidence and is simultaneously carrying out comprehensive rights protection work."

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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