gm - September 29th, 2022

gm 👋

Bitcoin hovers around $20k on $39B of volumes, while Ethereum is right at $1300 on $12.5B of turnover. Both volumes are lower than earlier this week, bringing back some normalcy after a string of leveraged positions getting cleared out. CFTC chairman Rostin Behnam said Bitcoin could rise in price as regulation becomes clearer, going as far as to say “Bitcoin might double in price if there’s a CTFC-regulated market.” (he didn’t caveat with the usual NFA!)

NFT volumes were higher today, trading $19M in total. ETH-NFTs were $15M, while Solana-NFTs was $3M. CryptoPunks pretty much led the way with a whopping $6M in turnover on 16 transactions — #2924 went for a blockbuster print of $4.5M. Sorare comes in second with $1M in trades, while BAYC + MAYC collectively were $1.6M on the day.

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NFT headlines:

Ultimate Guide to NFT-Fi (Bankless)

Someone Just Paid $4.5M for a CryptoPunks Ethereum NFT Despite Bear Market

After the Crypto Crash, NFT Collectors Are Digging in Their Heels

Art Blocks Fidenza Creator Sells $17M of Ethereum NFTs Amid Market Slump

Inside the Fight Over the ‘Pulp Fiction’ NFT

The NFT market is in shambles. Here’s what could come next

Latin American NFT marketplace Minteo raises $4.3M seed round


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