gm - January 6th, 2023
gm 👋
Feel like a broken record, but crypto markets overall haven’t really changed in the past 24 hours. Bitcoin is $16.8k and Ethereum is still $1250. US jobs numbers came in, with 223k added in December, down from 256k in November. There are no more negative yielding bonds globally, a first since 2014 when the crazy Quantitative Easing was in full gear. With the spigot of free money on pause, tech companies have spent 2022 coming back down to earth and have started 2023 with much of the same — Amazon is cutting 18k jobs, Salesforce laid off 10%, hiring freezes continue among top tech firms and unicorn valuations are coming down.
NFT volumes spike to near $35M on the day, driven mainly by Yuga Labs projects. BAYC, MAYC, BAKC, and CryptoPunks have $17M in total turnover. ETH-NFTs are $29M while Solana-NFTs have $4M. Huobi has announced they will be laying off 20% of their workforce, and USDD has de-pegged once again. SBF is fighting for the $460M stake in Robinhood, arguing he needs it to fight his trial, to which BlockFi is rightfully trying to claw back and pay back users.
Check out our Dune dashboard for details → https://dune.com/lhagiimn/cyan-market-dashboard
...
NFT headlines:
Developer of ‘Mutant Ape Planet’ NFTs Arrested, Charged With Fraud for Alleged $2.9M Rug-Pull
NFT Investors Dump Cratered Tokens in Tax Write-Off Marketplaces
NFT December sales surge to highest since June amid ‘tax-loss harvesting’
Avalanche NFT is Now Available to Shopify Merchants Via Venly App
