gm - July 9th, 2022
gm 👋
The weekend has finally started in Asia, and it feels like it couldn’t come sooner. With former Japan PM Abe getting assassinated, Boris Johnson stepping down, Georgia Guidestones exploding and Elon finally walking away from the Twitter deal, the hadron collider is certainly doing its work.
ETH is flat overnight, with volumes picking up +15% to $16.5B. Headlines around Voyager bankruptcy, Blockchain.com’s $270M hit on loans to 3AC, and the various headlines for Celsius remind us the contagion is not yet fully flushed out of the markets. NFT-related tokens are softer, with $APE, $SAND, $MANA, and $AXS -3%. $LOOKS is down -8.5% with quite an uptick of volumes, +25%.
ETH-based NFT volumes are down -13% to $14M, and Solana-based NFT volumes still haven’t cracked the $2M ceiling as the past 24hrs only saw $1.5M turnover. BNB-based NFT volumes remain low at ~$400k. OpenSea volumes remain flat at $8M and the average ticket size is only up slightly to $150 (vs. $139 yesterday). LooksRare volumes are a touch softer to $700k with the average size up slightly to $1572 (vs. $1481 yesterday).
Looking at individual NFT collections, MAYC is the most robust as volatility is comparatively low and the floor price holding steady at 18.8 ETH — volumes are looking to pick up and average txn size is a healthy 20.4 ETH. Otherwise, BAYC saw +9% volumes of $2.2M with only 7 trades, driven by a high-priced purchase of a golden ape #2089 of 670 ETH (roughly $800k) on NFT Trader. Floor price of BAYC remains at 90 ETH.
Headlines to checkout:
3AC’s NFT-only hedge fund Starry Night spent $21M for a portfolio worth less than $5M now
Can ‘chief vibes officers’ and NFT influencers keep things positive amid the crypto collapse?
Over 500 New Companies Are Working on Building the Metaverse
How the newest NFT unicorn has mastered scale through transparency, creativity, and community
GameStop chooses 0x API to power DEX swaps in its new digital asset wallet
Have a great weekend ahead!
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