EUR/USD 1.15766
0.235%
Gold 3415.16
-0.499%
Oil 70.461
-1.373%
USD/JPY 144.098
0.115%
GBP/USD 1.35822
0.090%
GBP/JPY 195.721
0.204%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
June 16, crude oil futures fell slightly in a volatile trading day as investors focused on the latest developments in the Israel-Iran conflict. Janiv Shah, vice president of commodity markets at Rystad Energy, said: "The conflict may de-escalate as diplomacy plays out, hostilities between Iran and Israel continue but remain contained, or the conflict reaches new levels as multiple countries get involved." "Lower prices do not mean that the market has digested the worst-case scenario of oil prices escalating." Market observers said that possible oil supply disruptions in the Strait of Hormuz remain a major market risk, but this is unlikely to happen at present.Air India crash expected to result in $475 million in insurance claimsOn June 16, Luca Pesarini, an analyst at Ethenea, said in a report that the Federal Reserves meeting this week will not be remembered for the interest rate path, but more of a test of the central banks independence. "The real challenge is not the conflicting economic data, but the political interference in monetary policy communication," Pesarini said. Trump previously announced that he would soon appoint a successor to Federal Reserve Chairman Powell, nearly a year before Powells term expires. This puts the concept of "shadow chairman" in the spotlight. Pesarini said that if this news is announced, there is a possibility of conflicting monetary policy signals between the Fed officials and the designated successor, especially if the latter publicly pushes for rate cuts.Russian Foreign Intelligence Service: Ukraine and Europe are preparing provocative actions against Russia.June 16, UBS economists said in a report that the Bank of England is likely to keep interest rates unchanged in its interest rate decision on Thursday. Economists said that uncertainty surrounding the outlook for UK economic growth and inflation may cause the Bank of England to keep interest rates at 4.25% in June. However, the Bank of England may cut interest rates in August and November, bringing the rate down to 3.75% by the end of 2025.

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