gm - September 1st, 2023

gm 👋 NFT volumes normalize, with Ethereum NFTs trading $6.6M, Mythos $1.1M, and Solana $1M. DMarket is the top collection on the day with 100% of Mythos' volume of $1.1M. Sorare continues the gambling track, with $850k in volume. Gods Unchained rounds out the top three with $650k in trades. There were almost 100k transactions between the top three. The top four of five NFT sales were CryptoPunks, ranging from $81k to $86k.

All six Bitcoin ETF applications were denied a decision and were pushed back 45 days by Gary Gensler. Lots of rumors flying around on Crypto Twitter, the worst of them claiming Gary needs time to think of an excuse to deny all applications so kicked the can. Bitwise withdrew their application after having tried for so long. With this major catalyst out of the way, and September being a seasonally volatile month for crypto, many stay cautious about taking delta on leverage.

Stablecoin marketcap is stagnant absent of major news/catalysts