Crypto markets were strong today, with ETHUSD +8% to $1625 on thinner volumes of $18B. BTCUSD is trading at $23600 right now with no change to volumes from yesterday of $53B. TradFi markets are flat overall, though tech stock earnings reports show how far into the recession we’re getting into — Twitter losing $344M and blames Elon for pulling out (claims it cost them $33M to prep deal) while Snapchat lost almost 1/3 of its market cap after dismal earnings from more competition, Apple margin squeeze and global macro. NFT/Metaverse names are mixed but for the most part, don’t have any standouts outside of $APE which is +4.5% on the day to $6.7.
EVM-based NFT volumes look flat day-over-day at $18.6M, while Solana-based NFTs were at $1.5M. $2.3M of the EVM-based volumes were driven by Isekai Meta, a new NFT project minting today with heavy hints of Ghibli Studios. OpenSea had a lower turnover day of $11.6M while LooksRare seems to only have printed $700k in the past 24hrs.
In Blue-Chip projects, BAYC was a healthy $2M on the day as the floor price holds around 93.5 ETH. Mutants had a low turnover of $735k, as floor price slowly drags lower to now just below 17 ETH. CryptoPunks back to normal with half-a-million volume day. Doodles saw the same amount of volumes, slightly softer floor price of 12.5 ETH.
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