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NFT/Crypto Market Update: Price Slowdown, Slight Losses

Daily NFT/Crypto Market Update - 9/20/2022 | A Thread 🧵🧵🧵

OVERALL TRENDS

We saw a bit of a downtrend in the market today as we saw small losses in the two major cryptos, Bitcoin and Ethereum. BTC has dropped below 19k again and ETH is nearing 1.3k. A big day tomorrow with

1/ the interest rate hikes incoming. NFTs have calmed down a bit after seeing a few straight days of major profit potential. While there are still opportunities, they are definitely slowing down as bearish macroeconomic factors start to take their toll.

2/ Degen/free mint of the day: SUBJECTS WORLD

@SUBJECTSworld is a 7777 supply NFT project that did well today and made good profit for minters. Seeing over 4000 sales on secondary today, this sits at a current floor of 0.04 ETH after hitting highs of 0.07.

3/ @SUBJECTSworld is an art project by artist @whoisbabyteeth and @SutterSystems This fits the art meta well, so this was a strong reason why this was able to see its success. This could do well tomorrow if it sees good volume.

4/ 50 YEARS OF ATARI MINT

50 Years of @AtariX is a 2.6k commemorative collection signifying the 50th anniversary of Atari. This sits at a floor of 0.31 ETH after seeing over 2000 sales and minting out at 0.1972 ETH. The art is by Butcher Billy and the NFT looks to be early

5/ access to an @AtariX Club. Atari is a video game brand that has been around for a long time and has been very successful, so their success in NFTs should be no surprise. This looks interesting and could be something.

6/ VOYAGERS 2nd COLLECTION

@VoyagersNFT is a 10k NFT collection that sprung on the space several weeks ago and did well on secondary. It had a unique minting process where you could customize your NFT as you mint it. The dev was transparent saying that this would be the start to

7/ multiple collections and this came true today with the mint of @0xCreate This is an exclusive 2k supply mint pass for future 0xCreate projects and @VoyagersNFT were able to mint it. This ecosystem is something to watch as it looks to be constantly building.

8/ OVERALL THOUGHTS

As the crypto and NFT market slow down, everyone is awaiting the FED news about inflation rate hikes. These will likely be bearish, however, the past couple of meetings we have seen spikes in crypto as people overestimate how bearish the news really is.

9/ This is a trend to look for as the meeting closes in. Nevertheless, everything about the global economy is still very bearish so short term things should stay the same. Thanks for reading and have a great day Kings! Follow for more! 💵👑

This post is based on this twitter thread.

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