gm - July 13th, 2022
gm 👋
Crypto markets are softer overall, but to a lesser extent than the moves seen yesterday. ETHUSD hangs around $1050 on similar volumes to yesterday of $12.5B. BTCUSD hangs around $19500, looking indecisive at the moment with basically unchanged volumes vs. yesterday of $26B. NFT/Metaverse-related tokens are somewhat mute as well, with only $AXS really moving as it drops 4% to $12.88 on much thinner volumes of $80M. $APE and $MANA are softer -2.5% while $SAND remains unchanged.
NFT volumes saw a decent pickup, with EVM-based NFT volumes approaching $17M, while Solana-based NFT volumes still can’t breach the $2M ceiling with a turnover of $1.6M in the past 24hrs. OpenSea had $7.1M turnover, with average ticket sizes back to $151. LooksRare looks to have revived turnover, with volumes a healthy $1.7M and average sizes back to above $2k of $2,682.
Looking at individual projects, Blue-Chip projects actually had a lower turnover in the past 24hrs, almost half the volumes seen yesterday. BAYC volume on the major marketplaces saw only ~$650k, with floor prices softening to 95.0 ETH — the average price was still higher at 118.87 ETH. MAYC is $500k in turnover, with the floor price holding steady at 18.75 ETH on roughly 23 txns. Meebits is still the standout, with a little under $1M in volumes, though floor price fell ever so slightly to 5.70 ETH from 6 ETH yesterday. Average prices transacted are high, at 20.95 ETH, a 3.6x divergence from floor.
Some headlines in NFTs today:
Bankruptcy court judge gives green light to serve subpoenas to 3AC founders for discovery
NFT Game Publisher Animoca Raises $75M — At Higher Valuation Than Before Crypto Crash
Comic-Con guru explains why storytelling is the key component for successful NFT projects
Bose —To partner with Warner Records and Stickmen Toys to offer NFTs
Details behind the new ERC-4907 standard — rental NFTs (a thread)
Volumes surge 205% in Axie revival as co-founder claims project is ‘healing’
Go big or go home — until tomorrow!
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