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Crypto markets react negatively to Powellâs speech at Jackson Hole, as he reiterates his stance on tackling inflation and is overall âmoderately hawkishâ in tone. TL;DR â he is prepared for households to endure more âpainâ in order to lower inflation. Bitcoin is down 4% to $20.6k on higher $32B of volumes. Ethereum is down harder, -7.1% to $1575 on $19B as leverage clears out. Overall crypto market capitalization still manages to hover just above $1T at $1.05T.
NFT volumes are $21M on the day, with EVM-based NFTs at $17M and Solana-based NFTs at $2M. BAYC+MAYC+Otherdeed dominate the top spots with $6.5M in total turnover, although floor prices and best bids didnât change overall â Eminem and Snoop continue to pump BAYC bags as theyâll bring their apes to the VMAs this year. Azuki had a strong day with $1.1M in turnover, though the floor didnât budge and average prices were off 15% to 9.69 ETH.
Check out our Dune dashboard for details â https://dune.com/lhagiimn/cyan-market-dashboard
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NFT headlines:
Reddit Starts Airdrop of Polygon-Based âCollectible Avatarsâ
âThe Simsâ Creator Will Wright Raises $6M for Blockchain Games
Snoop Dogg and Eminem to Bring Bored Ape NFTs to VMAs In âOthersideâ Metaverse Performance
Reddit Is Airdropping Free Polygon NFT Avatars to Its Most Hardcore Users
Animoca Brandsâ Japan unit raises $45M at $500M valuation for NFT push
Most NFT Projects âConvey No Actual Ownershipâ: Galaxy Digital Research
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