Market UpdateNFT Market Update - Week 40, 2022
Numbers Don’t Lie, Recession Still Likely. Will You Be Ready?
Overall, this week has seen some positive movement in the crypto market, as well as NFT’s. We have seen Bitcoin go a little over the 20K mark. We also seen Ethereum slowly climb and hold strong around the 1,350 mark this week. Both leading cryptos have retraced a tiny bit closing out the week.
We have also seen projects continue with the ability to mint out whether there minting model was free or paid. The current Meta is still strong with Degen free mints, as these projects require very little investment and have continued to be able to deliver these small stackable gains.
In the current market conditions, these small gains are important. There is still money to be made in this market. We just have to be more cautious when looking for it. Do your research and only Invest in projects with strong volume that allow for quick exits.
It took time and patience to learn that emotions are costly. My advice is to nickel and dime these opportunities as they present themselves. Be happy and take the small gains. Money is money and trading safer while stacking your gains is definitely a win. These gains will add up quicker and it’s better than buying into the FOMO, just to get caught holding someone else’s bag.
This week we saw 79.86 Million in funds across all NFT markets this was up by (.2%) 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 $60.05 million. Compared to last weeks final total, this figure Decreased by 1.95%.
OpenSea NFTs Daily Volume
- Monday - Users 25.67K | Volume 9.53M | Transactions 62.6K
- Tuesday - Users 26.14K | Volume 7.79M | Transactions 61.5K
- Wednesday - Users 26.94K | Volume 8.66M | Transactions 57.3K
- Thursday - Users 26.66K | Volume 9.34M | Transactions 54.3K
- Friday - Users 25.58K | Volume 10.31M | Transactions 54.2K
- Saturday - Users 23.07K | Volume 8.13M | Transactions 51.9K
Market Size
We can see by the numbers that this week the unique Users Decreased by 2.13% and the trading transactions Increased by .97% from last week.
Weekly Top OpenSea Projects
Weekly Top Sale
The Highest Single Sale this week was,
CryptoPunk #1484 for $327,460 Thousand
Weekly Top New Drops
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
Despite the success that the Web3 market has seen this week. Since the Bear market has begun, the stock market has continued to decline and holders have lost $1 trillion. This number is astonishing and both markets are tied hand-in-hand in success and failure. Prices on consumer goods, are up across-the-board. Globally just about every country in the world is feeling the pains of inflation. As an example. Germany has the highest inflation since World War II, the United Kingdom is holding protests over their inflation struggles and Central Banks are raising rates worldwide, putting us on the verge of a global recession.
So, remember, it’s important to take the small wins stack them up and build up your liquid little by little. Do all of this in an effort to put yourself in a better position to come out on top. Not all of us will succeed, but those who do will be thankful that they were patient and they did not let emotion play into their decisions. We are all here early and seeing things like the Binance Hack this week is certainly a reminder of how early we are, and how all of these kinks we experience along our Web3 journey will get worked out through the process as we get closer to mainstream adoption.
Take my constant advice and 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 remained in a state of Extreme Fear for three straight weeks now, which has been the current trend. 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.
Socials:
If you enjoyed this or found it useful please follow the Socials below
Marz - Twitter