Market focus

Most of the top NFT sales this year are from Yuga Labs collections. Sales of NFTs with rare traits have meant there are some outliers, but most purchases were made toward the beginning of the year, notes Callan Quinn on The Block. It’s been a tough year for NFTs. Things started well. January this year…

NFT sales volumes fell in the lead-up to Christmas in 2022 as well as in 2021.  Meanwhile, Yuga Labs’s Bored Ape Yacht Club’s floor price increased ahead of the holiday. For the second year in a row, NFT sales have dipped leading up to Christmas. NFT trading volume fell from over $24 million on Dec….

As of the end of December, daily spot trading volume fell below $10 billion. Trading volumes haven’t been that low since Dec. 17, 2020, when bitcoin’s price first broke past $20,000. Meanwhile, Bitcoin accumulation is nearing record 800,000 addresses despite whale selling, while Bitcoin exchange withdrawals sink to a 7-month low. According to The Block’s…

Breaking crypto news from the last week (Dec. 17–23, 2022): Dec. 17: Fireblocks, a crypto custody tech provider, has received the Cryptocurrency Security Standard (CCSS), a first-of-its-kind certification – a security standard for crypto wallets and custody. The CCSS was created in 2014, but no crypto company has met the necessary standards so far. Dec….

After the collapse of FTX, Web3 VCs say they believe in decentralized tech as much as ever. What the hell else can they say? – Ben Munster writes on Decrypt. Given the contagion and chaos we have witnessed since Sam Bankman-Fried’s crypto exchange FTX had a sudden multibillion-dollar coronary, you may be tempted to conclude…

Amid a massive downturn in the crypto market, stablecoin usage and adoption are still increasing. Stablecoin settlement reached $8 trillion in 2022, rivaling Visa with $12 trillion. According to CoinMetrics, the total value settled by them in 2021 was just over $6 trillion. In 2022, the value settled could top $8 trillion. Peter Johnson, co-head…