Market UpdateNFT Market Update - Week 50, 2022
Trump Drives NFT Volume This Week
| ETH: $1,180 (-7.59%) | BTC: $16,751 (-2.60%) | SOL: $12.41 (-9.69%) |
OpenSea had its fourth consecutive week of upwards volume. Crypto saw gains going into the Fed Report followed by a retrace based off the news of continued hikes coming. There were many notable events this week which drove volume including the return of the Anime Meta. We also seen some new drop’s do very well this week.
Probably the most interesting was from former President Trump. He released a NFT project consisting of 45K trading card NFT’s themed to make him look like an American Hero. They do include IRL utility including dinner or zoom meetings with Trump himself depending on holdings. Not much more know on any additional utility at this point.
**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 Top 5 NFT Markets by Volume
Weekly Top OpenSea Projects
Weekly Top Sale
The Highest Single Sale this week was,
CryptoPunk #4181 - $215.85K
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
The NFT market has been doing relatively well for the last 4 weeks. Crypto has been pretty much holding steady with minor up's and downs. Which has been good for swing trading Crypto. I do feel like this is unsustainable based on the recent volume we have seen enter the market. Pair that volume increase with the fact that the holidays are approaching rapidly and we continue to be in a state of fear. This shows that people are willing to buy in when they find a project and see or believe the volume action will be positive. But this is dangerous in times of uncertainty, because projects can drop in value quicker then they increased in value. Remember to be safe and don’t get attached and cloud your trading judgment. Get out, profits are profits don’t be greedy and get stuck holding other people’s bags.
The Fear index has not moved the needle for the fourth week in a row. It continues to sit at 26 same as the previous three weeks. 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 between the two you shouldn’t be buying either.
My reports are for informational purposes only.
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