Market UpdateNFT Market Update - Week 44, 2022
Art Gobblers, Resuscitates The NFT Market With Some Shock Therapy!
This week we saw another interest hike of .75% and The monthly employment numbers were released and climbed to 3.7%. With all this the markets were down overall for the week but had a nice bounce upwards to close out the week. In the Web3 world we saw crypto gains and the ability to hold those gains mostly. The NFT market had some volume growth this week and some interesting secondary action to boot. Oh, and a WTF moment for Art Gobblers which was a free mint that instantly mooned to the tune of 30K. We knew it was going to do well but I was thinking more like a 4 Eth high.
This week we saw 85.12 Million in funds across all NFT markets this was up by (35.02%) 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 $60.25 million. Compared to last weeks final total, this figure Increased by 23.68%.
OpenSea NFTs Daily Volume
- Monday - Users 19.2K | Volume 12.93M | Transactions 34.1K
- Tuesday - Users 19.65K | Volume 10.87M | Transactions 35.1K
- Wednesday - Users 18.01K | Volume 9.76M | Transactions 31.4K
- Thursday - Users 17.02K | Volume 7.28M | Transactions 30.4K
- Friday - Users 16.96K | Volume 6.46M | Transactions 29.6K
- Saturday - Users 16.55K | Volume 6.41M | Transactions 29.9K
Market Size
We can see by the numbers that this week the unique Users Decreased by 2.04% and the trading transactions Decreased by 5.63% from last week.
Weekly Top OpenSea Projects
Weekly Top Sale
The Highest Single Sale this week was,
Fidenza #783 for $471.15 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
We seen some events this week that remind us, that it only takes one good mint to make it in this space. It also proves that people are still willing to invest in solid projects.
However, I caution you to trade with zero emotion as we know that these events are rare. Don’t get caught holding someone else’s bags. Small wins add up as well and historically will createding someone else’s bags. Small wins add up as well and historically will create more gains.
But there is something to be said about how the patience of those that grind it out for a specific project usually prosper in these situations.
The Fear index has improved a tiny bit from last week. Still holding in a state of Fear position. Currently I would say we could see another good week before slipping back to 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. Just remember if you buy stock, you’re an investor. If you buy an NFT, you’re a customer. If you don’t know the difference you shouldn’t be buying NFT’s at all.
My reports are for informational purposes only.
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