Crypto markets are softer as the weekend closes, with Bitcoin down 1% to $19.1k and Ethereum off -2.5% to $1290. Both have low volumes, $15B and $6B respectively. Almost as if it's a PTSD flashback to 2009, Credit Suisse is the topic of discussion over the weekend as its 5-year CDS spreads are at near all-time highs. Additional topics include the Bank of England’s kickstart of QE this week due to pension funds teetering of collapse — this is on top of the BOE’s bond portfolio unrealized losses of ~$200B.
NFT volumes were $16M over the past 24hrs, with ETH-NFTs showing $11M and Solana-NFTs at $2.5M. The top project is RENGA at a $2.4M turnover on 691 transactions. BAYC comes in second with $1.7M on 7 transactions, and CryptoPunks follows on $1.3M but with 2 trades.
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