gm - August 25th, 2022
gm 👋
Almost a broken record this whole week repeating the same first line, but another day of quiet crypto markets as a whole — Bitcoin up a touch to $21.6k on $27B of volumes, while Ethereum climbed back to $1700 on $14B. Speculators are waiting for Jerome Powell’s speech tomorrow (Friday in the US) at Jackson Hole to touch on inflation and his stance heading into Q4. Coinbase has announced cbETH, for the purpose of staking ETH into the platform. Sam Trabucco of Alameda Research is stepping down to relax — what a heck of a ride!
NFT volumes still remain under $20M, with $18M trading hands in the past 24hrs, 14M of which is EVM-based and $1.5M Solana-based. DeGods collection has notably made it into the top 5 of NFT projects in terms of ‘market capitalization’, joining the ranks of BAYC/MAYC, Moonbirds, and CryptoPunks. BAYC traded $2.5M on the day with 20 txn going through, meaning average prices were ~$125k each as the floor price bounces back to 76 ETH. EZU takes the second spot with a $2.2M turnover as the new ‘wear2earn’ project is the new flavor of the day.
Check out our Dune dashboard for details → https://dune.com/lhagiimn/cyan-market-dashboard
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NFT headlines:
Cybercriminals Have Stolen Over $100 Million in NFTs: Report
Uniswap eyes NFT financialization, in talks with lending protocols
A Pillar of the BAYC Universe: Meet the Mutant Ape Yacht Club (from last week but good)
These Bored Apes Will Melt in Your Mouth: M&M’s Releases NFT-Inspired Candy
Nomad Offers Hackers a Chance at Redemption, Entices Them With NFTs
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