Market UpdateNFT Market Update - Week 37, 2022
Ethereum Merge Goes Unnoticed
The Merge came and went, nothing changed. We had a slightly bullish sentiment leading into the merge with a quick fall back after. The much-anticipated event barely had an impact on overall trading. But The CPI report that was released on Tuesday could have sucked the Hype right out of this historical event. The inflation report came in worse than expected causing markets to crash around the world. This happened because it symbolizes that what the FED has done thus far isn’t working. This means we should expect further rate hikes in the near future, and if we see these rate hikes, we can expect the markets to see the impact with further drops, The current state of the economy is quickly resembling the events of the 1970’s.
This week we saw 80.19 Million in funds across all NFT markets this was down by (7.58%) from the prior week.
**This Market Report is Not Financial Advice, This is my Personal Opinion of the current conditions and you should Always Do Your Own Research**
This Weeks OpenSea Volume
Weekly OpenSea volume reached $54.64 million. Compared to last weeks final total, this figure decreased by 1.43%.
OpenSea NFTs Daily Volume
- Monday - Users 23.42K | Volume 8.66M | Transactions 50K
- Tuesday - Users 21.39K | Volume 9.49M | Transactions 43.7K
- Wednesday - Users 20.517K | Volume 7.43M | Transactions 42.5K
- Thursday - Users 21.82K | Volume 7.78M | Transactions 45.3K
- Friday - Users 25.22K | Volume 11.29M | Transactions 57.7K
- Saturday - Users 22.68K | Volume 8.28M | Transactions 52.7K
Market Size
We can see by the numbers that this week the unique Users Decreased by 1.92% and the trading transactions Decreased by 1.43% from last week. As Bearish sentiments continue to rise.
Weekly Top OpenSea Projects
Weekly Top Sale
The Highest Single Sale this week was,
CryptoPunk #4713 for $412.29 Thousand
This Weeks Notable Projects
Top Mint of The Week OpenSea Link
Top Weekly Volume Growth OpenSea Link
Top Weekly Floor Growth OpenSea Link
Top Volume This Week OpenSea Link
Conclusion
The FED is in charge of controlling inflation, Its their job to fix it. Unfortunately, further economic pressure in way of rate hikes is how to achieve this. If we want to return to a healthy economy a hard reset is what will get us there.
I usually would say when trading NFT’s to follow the Meta but the truth is for the last two weeks there has been no Meta. If I were to claim there was, I would say Its Pixel projects as this is where people lean to when nothing is trending. Reason is pixel projects are easy to produce and launch quickly.
Remember my constant advice take this time to study projects that have been around and continue to deliver through this bear market. Whether it’s stocks, crypto or NFT’s position yourself to come out the other side of this with gains. Stack cash and wait to buy all-time lows. Invest wisely and never with money you can not afford to lose.
The Fear index has entered a state Fear, which is a slight improvement over last weeks level of Extreme Fear. As long as there is a state of uncertainty in the economic world we will see these ups and downs continue for the foreseeable future.
Disclaimer Always remember, that 99% of all projects will go to zero. This is why it’s so important for you to always invest wisely and do your own research. My reports are for informational purposes only.
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