gm - August 21st, 2022

gm 👋

Crypto markets were quiet, with Bitcoin barely changing at $21.5k on $22B of turnover, and Ethereum at $1629 on $16.5B of turnover. Newsflow is eerily quiet, both on the crypto and macro front — China’s increasingly difficult real-estate and bank run situation continues to trickle in, however.

NFT volumes barely crossed $15M, with EVM-based volumes posting $12M and Solana-based NFTs at $1M. BAYC tops the charts again as the floor price dangles around 66–67 ETH, but the best bid still remains around 62 ETH given the BendDAO situation. Pudgy Penguins had a blockbuster day with $1.4M trading hands as the newly released toys start circulating and capturing the community. MAYC took another beating today with $900k in volumes and floor price stuck at 12 ETH but the best bid at 11 ETH — not good. Sorare was quieter with only $750k turnover on the day.

Blue-Chip NFTs on the day

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NFT headlines

Bored Ape Yacht Club NFTs Ethereum Floor Price Drops to 8-Month Low

Landmark Crypto Judgment: Service by NFTs, Disclosure Orders Against Crypto Exchanges, and Potential Constructive Trustee Liability

What is an NFT and why are they so popular?

Buyer Faces $3M Loss In Squiggle NFT Bet Amid Crypto Meltdown

NFT Prices Diverge Sharply as Ethereum ‘Merge’ Mania Intensifies


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