gm - July 24th, 2022
gm 👋
Crypto markets are quiet as the weekend nears its end — ETHUSD is up 2% to $1580 on $15B volumes, while BTCUSD is relaxed at $22500 on $41B of turnover. NFT/Metaverse names are softer overall, with $APE trading just under $6.50 and -2.6% in 24hrs. $AXS is -5%, $LOOKS is -2.4%, and the rest are off ~1% or so.
EVM-based NFTs saw $16M trade over the past 24hrs, pretty healthy all things considered. Solana-based NFTs had a strong day of $3.4M turnover, a 75% bump in volumes vs. yesterday. ENS domains had a strong day with $2.8M traded, as hype and energy go towards emoji domains (like 🤑🎉.eth) and 3, 4, and 5-letter length domains. Sorare also had a strong day with $2.6M trading hands.
Blue-Chip projects were slightly softer, as BAYC only sees $1.3M in volumes across 8 txns done. MAYC has a steady floor price of 17 ETH on $570k volumes. Looks like the Yuga-related NFTs are taking a chill pill after the past 2wks or so of excitement behind the Otherside demo. Isekai Meta had $750k in turnover on the third day since launch. Meebits and Doodles each saw $150k in volumes, still a bit ways off from the $1M+ days we got used to a few months ago across each Blue-Chip project.
Check out our Dune dashboard for details → https://dune.com/lhagiimn/cyan-market-dashboard
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NFT headlines over the weekend:
After Minecraft says no to NFTs, NFT Worlds vows to make its own game
GameStop is letting someone sell an NFT that references a famous 9/11 photo (Updated)
Fans seek trust and better understanding of sports NFT market: Research
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