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On January 22nd, a research report from CITIC Securities pointed out that the USD/CNY exchange rate has also continued to rise recently. Given the still strong willingness to settle foreign exchange in the short term, and the fact that the beginning of each year is a major window for RMB appreciation, it cannot be ruled out that the RMB will continue to rise before the Spring Festival, releasing appreciation pressure. The combination of falling US Treasury yields and a strengthening RMB will put considerable pressure on current US Treasury holdings. However, after entering March, US Treasury yields and the RMB exchange rate may simultaneously peak, at which time a more ideal buying opportunity will be provided.According to Fox News, when asked whether Greenland would remain under Danish control, NATO Secretary General Rutte said that this question was not raised in his conversation with US President Trump.1. All three major U.S. stock indexes closed higher. The Dow Jones Industrial Average rose 1.21% to 49,077.23 points, the S&P 500 rose 1.16% to 6,875.62 points, and the Nasdaq Composite rose 1.18% to 23,224.82 points. Amgen rose nearly 4%, and Nvidia rose nearly 3%, leading the Dow. The Wind U.S. Tech Big Seven Index rose 0.98%, Tesla rose nearly 3%, and Google rose nearly 2%. Chinese concept stocks generally rose, with Baidu Group rising more than 8% and 21Vianet Group rising nearly 7%. 2. The three major European stock indexes closed mixed. The German DAX index fell 0.51% to 24,577.81 points, the French CAC40 index rose 0.08% to 8,069.17 points, and the UK FTSE 100 index rose 0.11% to 10,138.09 points. 3. US Treasury yields fell across the board. The 2-year Treasury yield fell 0.39 basis points to 3.584%, the 3-year Treasury yield fell 2.22 basis points to 3.651%, the 5-year Treasury yield fell 2.63 basis points to 3.822%, the 10-year Treasury yield fell 5.16 basis points to 4.241%, and the 30-year Treasury yield fell 5.26 basis points to 4.861%. 4. International precious metals futures closed mixed. COMEX gold futures rose 1.48% to $4836.20 per ounce, while COMEX silver futures fell 1.78% to $92.95 per ounce. 5. The most active US crude oil contract closed up 0.51% at $60.67 per barrel; the most active Brent crude oil contract rose 0.61% to $64.58 per barrel. 6. Most base metals rose in London. LME tin rose 3.81% to $51,295.0/ton, LME nickel rose 2.05% to $17,975.0/ton, LME aluminum rose 0.32% to $3,117.5/ton, LME copper rose 0.06% to $12,761.5/ton, LME zinc rose 0.06% to $3,175.0/ton, and LME lead fell 0.20% to $2,024.5/ton.Spot gold and silver opened steady on Thursday, currently trading at $4,832 per ounce and $93.01 per ounce, respectively.Documents show that Walmart (WMT.N), Microsoft (MSFT.O), and Tiger Global sold shares in PhonePe, an Indian digital payments and financial services company, during its Indian IPO.

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.