After an exciting week, markets are quiet and look to be consolidating here. The ECB has hiked rates by 50bps, the first in 11 years. First-time unemployment claims rose to 8-mth highs last week in the US, which reflects the reality everyone but economists seem to realize. ETHUSD is right at $1500 now, trading on 10% fewer volumes today of $20B, while BTCUSD is $22700, softer by 2% on volumes of $51B. NFT/Metaverse names are mixed, albeit within a +/-2% range. $SAND interestingly is basically unchanged, moving +2% on the day to $1.35 despite the decision by Mojang to essentially ban anything blockchain-related in their game Minecraft.
EVM-based NFT volumes are up 13% on the day to $19M, driven in part by Moonbird Oddities, which was an impressive turnover of $3.6M. Solana-based NFTs were just shy of $2M turnover day, printing $1.8M in the past 24hrs. CryptoPunks volumes have subsided with just a little over $600k changing hands.
For Blue-Chips, BAYC was at a steady $1.5M in volumes with the floor price not budging at 94 ETH. The Mutants didn’t quite reach the half-million mark in turnover, with floor prices dropping by 1~1.5 ETH to 17 ETH. Doodles cross the half-million mark of turnover on steady floor pricing of 11.4 ETH. Otherwise, volumes were muted across the rest of the Blue-Chip names — one example is Cool Cats only trading $33k in volume on softer floor pricing to 3.75 ETH.
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NFT headlines on the day:
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