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Xiaomi Auto: Xiaomi SU7 series deliveries exceeded 500,000 units in 28.5 months.August 17th - Japanese automakers are facing a double whammy from the impact of the Iran war and the potential for a stronger yen. Toyota, Honda, and Nissan have recently benefited from the historically weak yen, with Toyota and Honda raising their full-year earnings forecasts and Nissan achieving its first profit in nearly two years. However, this positive effect may reverse as the yen strengthens. Vincent Sun, senior equity analyst at Morningstar, stated that a stronger yen will force automakers to choose between raising prices overseas and sacrificing profits. The former could lead to a decline in market share, while the latter would compress the yen value of overseas profits. Bernstein predicts that for every 1% appreciation of the yen, Japanese automakers operating profits will typically be affected by about 2%, with some companies potentially experiencing an impact of up to 4%. Analysts also believe that the ongoing conflict in the Middle East could drive up the costs of key raw materials such as naphtha, resins, aluminum, copper, steel, and semiconductors, and increase shipping risks in the Strait of Hormuz and the Red Sea, further squeezing automakers profit margins.Japans 20-year yield rose 6.5 basis points to 3.815%.On August 17th, the Foshan Housing Provident Fund Management Center issued a notice regarding adjustments to the minimum contribution level for housing provident funds in Foshan. The notice clarifies that starting September 1, 2026, the minimum contribution level for housing provident funds in Foshan will be adjusted. Specifically, the minimum contribution base will be set at the minimum wage standard for employed workers in Foshan, which is 2300 yuan. The minimum monthly contribution for employed workers will be 115 yuan for both the individual and employer contributions, totaling 230 yuan. The minimum monthly contribution for self-employed individuals will also be 230 yuan.August 17th - The upcoming New Zealand general election in November may complicate the Reserve Bank of New Zealands (RBNZ) monetary policy tightening, but ANZ senior strategist David Croy believes the RBNZ is still very likely to raise interest rates in October. The RBNZ has clearly stated its intention to return monetary policy to a neutral level. ANZ estimates the neutral interest rate to be around 3% or slightly above 3%, while the current policy rate is 2.50%. Croy stated that with policy remaining stimulative and inflation above target, there is no reason for the RBNZ to pause rate hikes. He believes the current situation is that the RBNZ needs to find a reason not to raise rates in October.

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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