gm 👋

Crypto held up relatively well over the weekend, with Bitcoin down -1.4% to $16.6k and Ethereum off -2.8% to $1240. While FTX-related newsflow has softened, the Crypto Twitter (CT) mob started to focus on other exchanges and question their solvency. The current target is everyone’s favorite Crypto.com, after CT sleuths found a suspicious $400M transfer of ETH to Gate.io and back — Crypto.com’s CEO tried to calm the mob by explaining it was an erroneous transfer which both parties quickly rectified. Nonetheless, given the exchange’s history of improperly sending funds (just a few months ago it was reported they had sent $10M to a lady in Australia mistakenly), it is advised to keep crypto off exchanges for the near term. Safer than sorry to be caught in a CT-driven bank run.

NFT volumes revert to the mean, with $9M trading on the day. ETH-NFTs were $8M while Solana-NFTs was $1M. BAYC takes the top spot once again with 24 trades to post $1.7M in volume. Otherdeed ($800k turnover) and MAYC ($500k) come next to give Yuga Labs the top three spots of the day. Sorare has $500k of turnover as the boycotts to the upcoming World Cup doesn’t seem to dampen the enthusiasm at all — the first kick-off is on November 20th.

Check out our Dune dashboard for details → https://dune.com/lhagiimn/cyan-market-dashboard

...

NFT headlines:

Crypto.com Accidentally Sent $400M in Ethereum to Wrong Address, CEO Calls Concerns ‘FUD’

StreamCoin launches nonprofit ‘Green NFTs’ in partnership with One Tree Planted

Here’s How the NFT Community Is Reacting to the FTX Crash

Desperate To Get Crypto Out of FTX, Some Get Creative