gm - July 10th, 2022
gm 👋
ETHUSD holding steady over the weekend, trading at $1220 as I type, pretty much unchanged from yesterday on significantly lower volumes of $9B. NFT/Metaverse tokens are also unchanged in the past 24hrs on thinner volumes. $LOOKS is -4% on roughly half the volume vs. yesterday at $8M turnover. Markets seem to be digesting all the news flow this past week — one exciting observation is Celsius has paid back all their DeFi loans but seems to be ghosting all the others. Being on-chain and public does seem to incentivize good behavior, so count that as a win for DeFi.
NFT turnover is slightly higher in the past 24hrs, with EVM-based NFTs seeing $17.5M in volumes, although Solana-based NFTs are still under $2M turnover (of $1.4M). This is all with OpenSea volumes lower by 17% to $6.4M, representing less than half of the EVM-based NFT turnover — others such as NFT Trader and Genies are doing well as LooksRare didn’t see the volume pick up. Average ticket size on OpenSea sits at $141 vs. $150 yesterday, while LooksRare’s average ticket size dropped 33% to $1048 from $1572.
Looking at individual PFP projects, BAYC’s floor price has ticked up +1.6% to 91.7 ETH, with volumes flat at around $2.1M across the major NFT marketplaces. BAKC (the doggies!) has seen a significant pick up in volumes of +27%, and the floor price is up 33% to 8.5 ETH as the average traded price sits at 8.66 ETH. Doodles saw a pick up in floor price, +9% to 13.5 ETH with a slight uptick in volumes but half the txn activity (only 5 recorded in 24hrs). Overall, the rest of the Blue-Chips remain quiet.
What to grok:
Ethereum Name Service domain bought for $315,000 in second-biggest ever sale
Logan Paul Turns Most Expensive Pokémon Card In The World Into An NFT
David Guetta and Stage 11 Team Up for a Virtual NFT Adventure in Music
Rest up for the start of a new week!Please let us know your thoughts at [email protected]
Buy an NFT now and pay later → https://dapp.usecyan.com/
