gm - October 19th, 2022
gm 👋
Global macro pulls back a bit, and crypto follows right behind. Bitcoin is softer by 2% to $19.1k on $28B of volume, and Ethereum is down the same to $1300 on $10B of volume. Bank of America’s October survey of investors resulted in most saying they favor the long dollar trade still, and don’t see much deviation from this position in the near term as more macro numbers roll in — this doesn’t bode well for Bitcoin given the favored trade right now is to long the biggest fiat trade.
NFT volumes are looking the same at $12M, with ETH-NFTs at $8.5M and Solana-NFTs at $1.5M. Sorare takes the top spot with $1.6M in turnover as hype for the World Cup builds. CryptoPunks had 7 trades worth a total of $1M, while Azuki fades from yesterday’s excitement to just $500k in turnover. A real house in the US has sold on OpenSea through an NFT, with financing on the back side, showing the first POC of a real-world item smoothly transacting on-chain.
Check out our Dune dashboard for details → https://dune.com/lhagiimn/cyan-market-dashboard
...
NFT headlines:
Redditors have created millions of crypto wallets to buy NFT avatars
Royalties Chaos Shows Ethereum NFT Market ‘More Serious’ Than Solana: Fidenza Artist Tyler Hobbs
Why 137-Year-Old Brand Bicycle is Making Bored Ape NFT Playing Cards
...
Please let us know your thoughts at [email protected]
Buy an NFT now and pay later → https://dapp.usecyan.com/
