Crypto markets are softer on the day, BTC down -2.6% to $22,800 on really low volumes of $23B. These past few weeks have been north of $35B in volumes, but with summer in full swing and a month or so before September (a historically volatile month), turnover tries up. There are a few on crypto Twitter circulating analyses showing the Put/Call ratio is almost at an all-time high of near 0.8, though still some distance from the all-time high of 0.96 last April before the 50% correction. ETH is lower by 3.1% in the past 24 hours on $14B volumes — lower as well.
NFT volumes were $16M on the day, with $12.5M for EVM-based NFTs and nearly $2M for Solana-based NFTs. CryptoPunks had a healthy $2M turnover day, while Sorare claimed $1.8M of turnover. OpenSea posted a $13.5M day, slightly lower vs. the recent moving average, while LooksRare is at the same $0.5M. Blue-Chip NFTs saw ~$3M in volumes so no major change in trading flows.
Check out our Dune dashboard for details → https://dune.com/lhagiimn/cyan-market-dashboard
NFT headlines on the day:
Textbook publisher: NFTs will let us squeeze even more money out of students (goddamnit)
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