gm - July 20th, 2022
gm đź‘‹
Markets continue their relief rally as the ECB prints more money and everyone hoping the Fed does the same in the upcoming meeting 26–27th. ETHUSD is +3.5% to just under $1600, with $23.2B in turnover. BTCUSD is up +3% to $24130, the best its been since early June. Crypto Twitter is torn between people calling it a head-fake, while others claiming the bottom was in. Given the overall economic data points are pointing lower and early earnings figures aren’t peachy, we may not be in the clear just yet — regardless, enthusiasm is welcomed after all the Chapter 11 news!
NFT/Metaverse names are doing well as we’ve come to expect in strong ETH days — $APE is +5% to $6.38, while $AXS, $SAND, and $MANA are all pretty much flat. $LOOKS corrects by -3% to 43 cents, while $COIN stock pumps +15.8%. In terms of NFT volumes, EVM-based NFTs posted $16.5M so far while Solana-based NFTs are back below $2M turnover. CryptoPunks looks to have simmered down, with $1.4M trading hands in the past 24hrs.
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On an individual project basis, Doodles stands out with volumes +52% to just under $1M. The floor price is up a touch to 12.5 ETH, up from around 12 ETH yesterday. Volumes on BAYC are off by -25% to $1.6M, while MAYC volumes are half of what they were yesterday, down to $0.5M. Worth noting, Amazon.eth is going for $1M, while Sony.eth was purchased for $72k.
Check out our Dune dashboard for details → https://dune.com/lhagiimn/cyan-market-dashboard
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Today’s NFT headlines:
GameStop’s NFT Marketplace Opening Week Sales Eclipse Coinbase Volume
Here are 8 misconceptions about “The Merge” on #Ethereum that you should know
Helvetica, the world’s most popular font, serves as a creative muse in a new NFT collection
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