gm - December 29th, 2022

gm 👋

It looks like we’ll be finishing the year with no major moves in crypto. Bitcoin is flat at $16.7k and Ethereum is still at $1200. Bitcoin was weaker intraday but managed to look unchanged over a 24hr basis after a slight correction. Solana isn’t enjoying the same as it continues to slide lower, as it drops -6% to $9.44 — it has fallen over 20% in the past week, and is down 95% year-over-year.

NFT volumes in total were over $20M on the day, with ETH-NFTs at $18M and Solana-NFTs at $2.6M. Given the amount of wash trading and ‘trending’ or influencer-driven interest, it's hard to really know what the actual genuine volume is in the current climate. With that said, BAYC, BAKC, MAYC, and Otherdeed are at the top with about $7M in turnover. Azuki sneaks into the fifth slot with $800k in volume.

Snapshot of Blue-Chip NFTs

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NFT headlines:

Investors convert ‘totally worthless’ NFTs into tax write-offs

NFTs Are Securities and It’s Great

2022, the year NFTs fell to earth

OpenSea chief seeks to distance NFTs from crypto crisis

China to Launch First National ‘Digital Asset’ Marketplace

China state-backed NFT trading platform to launch on Jan. 1

Most Impressive NFT Projects of 2022

Yuga Labs at Center of Battle Over the Nature of NFT Copyright

Crypto Rout Sours NFT Bets at GameStop to Coinbase

Nouns Ethereum NFTs Will Appear in 2023 Rose Parade