gm - December 13th, 2022

gm 👋

Bitcoin gets a bump up to $17.5k, a +2.5% on the day, and Ethereum is up as well +3.1% to $1290, albeit both on low volumes of $22B and $6B respectively. Markets are reacting favorably to SBF finally getting the cuffs, as he’s held in custody by Bahamian officials under the request of the US Attorney, SDNY. TradFi is also carrying crypto as markets anticipate a favorable CPI to show the lowest inflation print of the year. Not everything is rosy, however, as FUD spreads on Binance as Crypto Twitter is abuzz again with speculation around the exchange’s balance sheet assets — data suggests close to $1B of net outflows in the past 24 hours.

NFT volumes overall sit at $18M, with ETH-NFTs at $17.5M and Solana-NFTs at $1.5M. ImmutableX also posts $1M on the day, driven by Undead Blocks Skin Vault, which saw an explosion of interest with 122 trades. BAYC and MAYC sit atop with a combined $4M in turnover. Valhalla makes an appearance again with $1.4M in volume across 840 trades. Sorare hasn’t made the top 5 in a few days, even as the World Cup heads into the semi-finals.

Snapshot of Blue-Chip NFTs

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NFT headlines:

Reddit Users Have Minted More Than 5 Million NFT Avatars on Polygon

Polygon’s NFT Market Demonstrates Signs of Significant Increased Adoption, but Not Growth in Sale Volume, Nansen Data Shows

Scottie Pippen Is Launching His Own Sneaker NFT Collection

Armin van Buuren Opens Up About His New Web3 Community

ApeCoin Staking Is Live: Here’s Everything You Need to Know

NFTs now look headed the crypto way

BREAKING: Sam Bankman-Fried Was Just Arrested Over FTX Collapse