Market UpdateNFT Market Update - Week 48, 2022
Mini Bull Run, In The Green For The Second Week. What?
All three indexes had another healthy week of gains. The Dow increased by 0.2%, while The S&P 500 increased by 1.1%, The Nasdaq had the largest weekly gains closing out Friday up 2.1%. This is the first time since October that all three indexes had two consecutive weeks of growth.
The Crypto Market started off the week consolidating from last week’s events. Since the start of the week, we have seen healthy gains for both BC and ETH. What interests me is how ETH has continuously out performed BC on the rebounds throughout this Bear Market.
The NFT Market had a strong week. We saw gains in volume, transactions and new users. All of which is great news. We did have some solid projects release this week that helped contribute to these gains. This is the second week in a row with an uptick on NFT volume. Stocks and Crypto have supported this climb, lets hope the trend continues. But as always protect your investments and be safe out there.
**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 $37.79 million. Compared to last weeks final total, this figure Increased by 2.33%.
We can see by the numbers that this week the unique Users Increased by 5.03% and the trading transactions Increased by 12.71% from last week.
Weekly Top OpenSea Projects
Weekly Top Sale
The Highest Single Sale this week was,
CryptoPunk #4181 for $187.22k
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
November Jobs report was released and of course it wasn’t favorable to control the inflation issues. Jobs up, wages up completely off set the rate hikes by the Fed. What does this mean, well it means Americans keep borrowing we are up to 16.51 Trillion in debt currently. So, the Feds will continue to raise rates until the borrowing slows down in a constant struggle to keep inflation under control.
We can see more volatility until all these factors are under control. We are enjoying a nice run right now, but remember it can fall quicker than it rises. There will always be money to be made in all markets. Just make informed decisions and never invest more than you can afford to lose. This market we love is very unstable as it is still an infant and needs to grow and develop which will take many years.
The Fear index has not moved the needle this week. It sits at 26 same as last week. 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 these two points.
- Not your keys, Not your Crypto or NFT's so if you're not actively trading put your holdings in a secure wallet.
- If you buy stock, you’re an investor. If you buy Crypto or NFT's, you’re a customer. If you don’t know the difference you shouldn’t be buying either.
My reports are for informational purposes only.
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