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Daily Altcoin Price Update: Mining Withdrawals Reaching a Tipping Point

Daily NFT/Crypto Market Update - 10/09/2022 | A Thread 🧵🧵🧵

OVERALL TRENDS

Similar to yesterday's price movement in the crypto market, we saw consolidation with small losses. BTC has been steadily decreasing and is now headed for 19k while ETH is around the 1.3k mark.

1/ NFTs saw a very slow day as people are following the macro-economic trends and preparing for the next part of this bear market. There are still some opportunities for profit, however, they are becoming increasingly harder to find.

2/ Degen/free mint of the day: EGGCELLAND OFFICIAL

@Eggcelland

is a 3333 supply collection that had the most sales today in the market. With over 3500 sales on secondary, this sits at a current floor of 0.02 ETH after nearly 100 ETH volume traded.

3/ @Eggcelland is a play to earn project with ideas in the works including an airdrop, games, and an EGGY token. This is obviously super ambitious but if executed right, could make this more notable.

4/ DEGODS 0% ROYALTIES

The popular Solana project, @DeGodsNFT just announced the royalties switch from 9.99% to 0%. DeGods is the blue chip project notably responsible for a 320 SOL floor and the project y00ts. Anyways, their switch to 0% royalties has brought back the

5/ controversial argument of whether royalties are good or not. On one hand, royalties provide a source of income, but on the other hand, a majority of projects already have enough money from an overpriced mint.

6/ TAT TWELVE ANONYMOUS TOURNAMENTS REVEAL

@tat_nftgame

Twelve Anonymous Tournaments had their reveal today and it caught a good amount of attention on secondary. As what goes with most reveals, there was a pre-reveal pump followed by a post-reveal dump.

7/ A lot of people took this opportunity to buy as the art is clean and the information about @tat_nftgame being VC backed resurfaced once again. This is something to watch as it could see some more movement.

8/ OVERALL THOUGHTS

The NFT market has slowed down a lot and it is seeing very low volume. It looks like the bearish sentiment in the economy has finally caught up to NFTs and crypto as volume is dying. Take this time to either take a break or learn more about

9/ different skills you can develop in the Web 3 space. Thanks for reading and have a great start to the week Kings! Follow my twitter if you enjoyed. 💵👑

This post is based on this twitter thread.

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