Daily NFT/Crypto Market Update - 9/18/2022 | A Thread 🧵🧵🧵
Today was a very red day with pretty much every crypto taking a huge dive. The market is down over 7% and we are looking pretty bearish at the moment. BTC is down 8% to below 18.5k and ETH is at 1.3k.
1/ NFTs are looking quite the opposite and have been seeing greater volume recently. We haven't seen this much recently in this bear, but it looks like the normal trend of crypto down, NFTs up is happening right now.
2/ Degen/free mint of the day: EMOHEADS
@EmoHeadsNFT are a 10k supply NFT collection that saw close to 7000 sales today and popped off. This currently sits at 0.02 ETH and it is the first 10k fully-animated collection in Spain. Emoheads is by @javirroyo a famous artist in
3/ Barcelona who has worked with companies like Amazon, Ikea, and HBO. @EmoHeadsNFT is animated to represent different emotions, raising awareness for mental health. This has done great today and we will see if it has the legs to continue tomorrow.
4/ KUMALEON MOON
@kumaleon_ is a 2.6k free mint that did very well right off the bat and has continued to hold its high floor. With closet to 1500 sales, this has risen to a current floor of 0.4 ETH after seeing 400+ ETH traded. Kumaleon is a Japanese generative art
5/ collection of bears with unique designs and colors. These are called @kumaleon_ because the art changes similar to a chameleon does. This has done very well and it will be on my watch list if it can go higher.
6/ CRYPTO UPDATE
As I am sure you have seen, crypto has been taking a real beating ever since the Merge, but the reason isn't because of ETH 2.0. More of the cause is bearish macroeconomic factors such as the CPI report and the upcoming FED interest rate decision.
7/ Interest rates seem poised to bump up by another 75 points atleast, so this is leading to the entire market tanking in preparation of this. A strong reminder that we are in a bear and to not fall for short term hype and pumps.
8/ OVERALL THOUGHTS
Like I said earlier, a relatively clear trend that we saw back in the bull market was an opposite relationship between crypto and NFTs. As crypto went up, NFTs went down and vice versa. This looks like it is the case right now as crypto has been dropping but
9/ NFT volume has been increasing. Who knows when the bearish global market trends will catch up with NFTs, but let's continue to ride this wave and make some profits. Thanks for reading and have a great day Kings. Follow if you enjoyed! 💵👑This post is based on this twitter thread.