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On June 7th, Jin Lei, Secretary of the Shenzhen Municipal Committee of the CPC, recently visited DJI Innovations Technology Co., Ltd., Mindray Bio-Medical Electronics Co., Ltd., and UBTECH Robotics Corp., Ltd. He engaged in in-depth exchanges with company leaders, gaining a detailed understanding of their production, operations, and innovative development. He also solicited opinions and suggestions on further improving service support and optimizing the innovation environment and industrial ecosystem. Jin Lei stated that Shenzhen is a city with a strong innovation atmosphere and vibrant innovation vitality. A number of innovative enterprises are thriving, and innovative products are constantly emerging, becoming a valuable asset and source of vitality for the city. He sincerely thanked them for their significant contributions to Shenzhens economic and social development. Currently, a new round of technological revolution and industrial transformation is accelerating, bringing new opportunities for the innovative development of both the city and enterprises. Shenzhen is accelerating its efforts to build a globally influential industrial and technological innovation center. He hoped that everyone would focus on innovation breakthroughs, continuously enhance their core competitiveness, explore broader domestic and international markets, and achieve better and greater development. We will always work together with everyone in the same direction, achieving mutual success and creating new and greater miracles.① Iran 1. Today (June 7th) marks the 100th day since the outbreak of the Iran-Israel war. Disagreements remain between Iran and the US regarding negotiations, and mutual trust persists. 2. Iran claims to have attacked another key facility of the US Fifth Fleet. 3. A military advisor to Irans Supreme Leader warned the US of potential "heavy losses." 4. Iranian delegation: Attacks on nuclear facilities should not be normalized. ② US 1. US Central Command: Intercepted missiles and drones launched by Iran. 2. US Central Command: There are currently no reports of US personnel injured, and Irans claim that it damaged the US Fifth Fleet headquarters in Bahrain is untrue. ③ Israel 1. The Israeli military says it is investigating an attack on Lebanese government forces vehicles. 2. The Israeli military claims to have struck approximately 150 Hezbollah targets in southern Lebanon. 3. The Israeli military says two soldiers died while on a mission in southern Lebanon. 4. According to Israels Channel 12, the number of Israeli soldiers killed since the ceasefire in Lebanon has risen to 16. 5. Israeli airstrikes in multiple locations in Gaza resulted in numerous deaths and injuries. ④ Strait of Hormuz 1. Rosneft CEO Igor Sechin: Blocking the Strait of Hormuz is an attempt to change the rules of the global energy market to benefit the United States. 2. The Iranian Revolutionary Guard issued a statement saying that if the United States "foolish" actions continue, the United States will have to bear responsibility for the consequences of a complete closure of the Strait of Hormuz and the obstruction of oil and gas exports. 3. The Iranian Revolutionary Guard stated that it has fired on four oil tankers attempting to cross the Strait of Hormuz without its permission. 4. According to the New York Times: A US official said that in the past month, the US military has assisted in coordinating the passage of more than 100 merchant ships through the Strait of Hormuz to and from the Persian Gulf. ⑤ Ceasefire Negotiations 1. Pakistans Interior Minister visited Iran on Saturday with new proposals aimed at breaking the US-Iran deadlock and reaching a temporary agreement. 2. Iranian Deputy Foreign Minister: Any agreement reached with the United States must include provisions for the release of half of the frozen Iranian assets. 3. Saudi media: Sources say Iran has requested three months of negotiations on the details of its nuclear documents. Trump informed mediators that he would not engage in negotiations for more than 60 days and demanded a swift response from Iran. 4. The Iranian Foreign Ministry issued a statement regarding the continued US violation of the ceasefire. ⑥ Other situations: 1. The US Department of Defense raised its counterintelligence alert level against Israel. 2. Bahrain condemned Irans missile attacks on its territory and Kuwait. 3. The Kuwaiti military stated that the Iranian attacks caused material damage but no casualties. 4. The Lebanese president accused Iran of using the country as a bargaining chip; Iranian Foreign Minister Araghchi retorted: "If Lebanon were Irans bargaining chip, we would have reached an agreement long ago." 5. Rosneft CEO Sechin warned that if the Strait of Hormuz were closed, other global shipping lanes such as the Bab el-Mandeb Strait and the Strait of Gibraltar could also face disruption. 6. The Iranian ambassador to Mexico stated that World Cup teams would enter and leave the US on match days. 7. The US may use Iranian assets to compensate its Gulf allies; US Treasury Secretary Bessenter has instructed his team to "assess the relevant situation in Gulf allies and calculate the cost of repairing damage caused by Iran." 8. The Iraqi Prime Minister revealed that he plans to pay an official visit to the United States soon.Alaska Airlines chief financial officer stated that the company expects to remain an Airbus operator for the long term.Alaska Airlines chief financial officer stated that refining margins on the West Coast are a more pressing issue than crude oil prices.Alaska Airlines chief financial officer stated that earnings guidance will not be resumed until fuel prices stabilize more.

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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