gm - September 13th, 2022

gm 👋

Its capitulation across the board in crypto, with Bitcoin down 6% to $20.8k on $45B and Ethereum down 7% to $1592 on $20B volume. Inflation in the US comes in higher than anticipated, with CPI printing 8.3% YoY for the month of August vs. the expected 8.1%. The rate is lower vs. the 8.5% in July, but the underlying components which are seeing increases are what is spooking people — as prices of other goods and services outside of energy are rising. This print suggests the Fed would raise rates another 75bps in the next meeting.

NFT volumes were $17M on the day, EVM-NFTs posted $12M while Solana-NFTs was $2.8M. A new project RENGA tops the charts with $1.6M in turnover, with Doodles close behind on $1.5M of volumes. Doodles raised $54M on a $704M valuation — boom.

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NFT headlines:

NFT Collection Doodles Raises $54M at $704M Valuation

Bored Ape NFT Metaverse Band Taps Beyoncé, Bruno Mars Producers

Starbucks Explains How Its Dumbass NFT Program Works

Lamborghini’s Second ‘Epic Road Trip’ NFTs Take Utility to New Levels

Ex-Credit Suisse traders resurface with NFT company


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