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On September 13, the Saudi Civil Defense Agency issued a statement on the evening of the 12th, saying that the Tuwar district of Jazan province in Saudi Arabia was attacked by Yemeni Houthi rebels that day, resulting in two injuries and damage to several buildings and vehicles. The Saudi Civil Defense Agency stated that the attack on civilian targets was a blatant violation of international humanitarian law, and that the incident had been handled according to established procedures. On the same day, the Yemeni Houthi rebels said that Saudi warplanes had conducted 129 airstrikes on seven provinces in Yemen in the past 48 hours. The group warned that these airstrikes "will not go unpunished."On September 13th, Tesla announced a press conference scheduled for October 1st to showcase its next-generation Roadster electric sports car. This highly anticipated fall event for Tesla fans may further fuel speculation about a potential merger between Tesla and SpaceX. Teslas official social media accounts used the phrase "Go for launch," echoing SpaceXs rocket launches, and Tesla has previously used live events to generate excitement among customers and investors. The launch of the second-generation Roadster has been delayed multiple times. In its recent earnings presentation, Tesla stated that the Roadster is still in the "design and development" phase. During Teslas first-quarter earnings call in April, Musk said of the Roadster, "I think it could be one of the most amazing presentations ever."September 13th - According to Axios, the United States is gradually losing its status as the "default option" for other governments to purchase weapons and store funds, and is also losing its appeal to international students. The report states, "The United States is losing its position as the default option for saving money, purchasing weapons, and sending international students." The report argues that even minor alienation from the United States could negatively impact Washingtons efforts to maintain its economic and geopolitical dominance over the years.ECB President Christine Lagarde: I will step down as ECB president in 2027; I am not considering returning to French politics and do not believe I am suitable as a French presidential candidate.European Central Bank President Christine Lagarde: The European economy is resilient. The current inflationary shock is expected to last longer, and market volatility and energy price pressures are anticipated to persist.

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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