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JPMorgan Chase raised its price target for Micron Technology (MU.O) from $350 to $550.On March 19th, Shigeto Nagai, Head of Japan Economics at Oxford Economics, stated that given the possibility of stagflation in the Japanese economy, they now expect the Bank of Japan to postpone its next interest rate hike from June to July. Thereafter, they anticipate the central bank will continue to gradually raise rates in the first and third quarters of 2027. In the short term, rising energy costs will re-accelerate supply-side driven inflation. They now believe that core CPI will not return to 2% until the second quarter of 2027, rather than the fourth quarter of 2026. Despite a strong expected outcome from the spring wage negotiations, higher inflation will limit real income growth. Therefore, they have lowered their 2026 real GDP growth forecast by 0.4 percentage points to 0.3%. Despite concerns about inflationary pressures and a weaker yen, they believe the Bank of Japan may become more cautious about raising interest rates, prioritizing the impact on corporate profits and real household income.Market news: On Thursday, the Japanese House of Representatives approved the addition of two dovish monetary policy strategists nominated by Prime Minister Sanae Takaichi to the central banks board of directors: Toichiro Asada and Ayano Sato. This move could influence the central banks decisions on the timing and pace of further interest rate hikes.On March 19th, Mianbi Intelligent released EdgeClaw Box, a smart hardware product featuring a lobster design that is safe, controllable, and ready to use out of the box. In collaboration with Tsinghua University and the OpenBMB community, they also open-sourced an upgraded version of EdgeClaw that is safe, efficient, and supports edge-cloud collaboration, aiming to safeguard the OPC community and data-sensitive enterprises in the wave of intelligent agents.1. JD Cloud: Offers greater discounts on multiple products, with an average price reduction of over 16%. 2. Alibaba Cloud: AI computing power and storage products see price increases of up to 34%. 3. Baidu AI Cloud releases price adjustment announcements for AI computing power, storage, and other products. 4. Ma Huateng publicly discusses "shrimp farming" for the first time: it can be combined with WeChats decentralized philosophy. 5. MiniMax releases its new generation large-format model M2.7. 6. Xiaomi releases its large-format model MiMo-V2-Pro. 7. Germany plans to significantly increase AI computing power. 8. HSBC reportedly considers large-scale layoffs; AI restructuring may affect approximately 20,000 jobs. 9. Foxconn and SAP sign strategic cooperation agreement to accelerate AI-driven manufacturing and supply chain transformation. 10. AI security startup Xbows valuation surpasses $1 billion. 11. Samsung Electronics and AMD sign memorandum of understanding to explore foundry cooperation.

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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