Crypto markets have cratered after a major liquidation — Bitcoin is down hard -8.5% to $21,482 on $29B of volumes. Ethereum is close by -8.7% to $1695 on $19.5B of turnover. The bear market rally seems to come to a conclusion, lead by Germany’s record producer price inflation at an eye-watering 37% YTD, with a 5.3% MoM jump. The total ‘market capitalization’ of crypto inches lower towards the $1T mark again, now at $1.08T.
NFT volumes are at $18.5M, with EVM-based NFTs trading at $14.9M and Solana-based NFTs posting $1.2M. The top project is once again BAYC at $2.1M, with Sorare in the second spot with $1.2M in volume. MAYC had around $1M in turnover and has seen its floor price crash to 13 ETH on OpenSea as liquidations on BendDAO’s lending platform pull the market lower. Otherwise, NFL All Day collection on Flow posts a strong start at $0.9M in volumes.
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