gm - November 17th, 2022

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Crypto markets are relatively quiet despite the onslaught of negative news. It’s been almost 2 weeks straight of drama, chaos, rumors, and implosions on CT. BlockFi files for bankruptcy, finally declaring defeat. Genesis Trading has a looming insolvency issue, along with hit pieces on Digital Currency Group. Gemini Exchange at one point had to shut down its front end for scalability maintenance, as a flood of users look to withdraw their funds. Uniswap also seems to be having issues with its front end, though the reason hasn’t been made clear just yet. Ethereum is off -2% to $1200 while Bitcoin is holding steady at $16500.

NFT volumes hover around $15M, with ETH-NFTs posting $14M and Solana-NFTs at $1M. Binance has announced it will temporarily suspend deposits of Solana versions of USDC and USDT, following moves from other exchanges last week. Expect to see liquidity dry up and potentially affect the Solana-NFT ecosystem, if not temporarily. BAYC, Otherdeed, and MAYC round out the top three spots again today, with a cumulative $4.5M in turnover. Azuki jumps to fourth with $1M, ahead of CryptoPunks at $950k.

Snapshot of Blue-Chip NFTs

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NFT headlines:

Justin Bieber Paid $1.3 Million for a Bored Ape NFT. It’s Now Worth $69K

NFT rides shotgun as Red Bull Racing closes out F1 season

CryptoPunks Come to Art Museums as Yuga Labs Begins Donating Ethereum NFTs

The NFT Bubble Has Burst, but the Value For Creators Is Just Heating Up

‘NFTs are here to stay.’ This Miami museum is getting a first-of-its-kind donation