Market UpdateNFT Market Update - 2022, Week 29
In the last week we have seen additional funds rolling back into NFT's. My belief is this will be a short term run and then we will return to the lows we have been seeing. This week continued to follow the recent trends of This Free Bear Market Minting Era.
This Weeks Open Sea Volume
Weekly OpenSea volume reached $142.72 million. Compared to last week, this figure increased by 34%.
OpenSea NFT Weekly Highs
- Sunday had the highest OpenSea User Activity of the week.
- Wednesday was OpenSea’s largest day of Volume this week.
OpenSea NFTs Daily Volume
- Sunday - Users 31.86K | Volume 16.29M | Transactions 73.6K
- Monday - Users 27.85K | Volume 14.21M | Transactions 57.1K
- Tuesday - Users 25.05K | Volume 11.79M | Transactions 48.9K
- Wednesday - Users 27.31K | Volume 16.66M | Transactions 55.1K
- Thursday - Users 28.83K | Volume 16.12M | Transactions 59K
- Friday - Users 28.72K | Volume 16.29M | Transactions 58K
We can see by the numbers that this week the unique Users increased 1.39 % and the trading volume was up 34% from last week. The overall consensus was the increase was a mix of the recent FED report & the upcoming Eth 2.0 transition which is closely approaching.ay held the spot for most OpenSea transactions this week.
CryptoPunks held the top 4 out of 5 spots in highest sold NFT’s this week. With Otherdeed for Otherside taking the #5 Spot this week.
CryptoPunk #6137 Selling for $474,399.65
Weekly Top New Projects
The Potatoz had an incredible launch which was brought to us from the Legendary group 9Gag as a free intro to their main project Memeland, during this Bear Market. Once again this was yet another free mint which appears to be the Bear Normal now. At the time of writing this Potatoz is sitting at a 0.85Eth Floor Price with over 5K in Volume and under 9% listed on OpenSea.
So far, the NFT market situation remains unclear. At times of uncertainty investors stick with stocks which are more stable. When these stocks rebound they tend to move their funds into riskier investments such as NFT's. If your not new to this space then you have been told already that 99% of NFT's go to zero and don't survive long Term. This is even more true in these types of conditions. Which require lower entry points. (Free Trend) and quicker exit points. So those of us that continue to thrive in this bear market are doing so by investing in the stable projects throughout the industry and moving quickly on the Degen flips that we invest in.
The Fear index is still high and this is mostly due to the economic conditions world wide. We will see it level out and return as these conditions improve throughout the world. But as a side note the industry is unpredictable What we think we know could always be wrong.
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