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Daily Altcoin Market Update: The Doldrums of the Day

Daily NFT/Crypto Market Update 10/29/2022 | A Thread

OVERALL TRENDS

We had a pretty boring day today with the crypto and NFT market both being very quiet. Crypto mainly consolidated with BTC still hovering just under the 21k mark and ETH around 1.6k.

1/ NFTs saw very low volume once again and we haven't been able to see a moon happen in a while. Until something big hits the market to get volume flowing back in, expect more of the same.

2/ Degen mint of the day: MEDIEVAL MONKEYS

@medievalmonke is a 5555 supply collection that led the market in sales for the day. Seeing over 2100 sales on secondary, this sits at a current floor of just under 0.03 ETH. Medieval Monkeys is a pixel art project that was

3/ created by @ExoLabsAI There is some mystery around this @medievalmonke and they have hinted towards some sort of utility being announced during reveal. Market has been bad recently but keep an eye on this project.

4/ WHIKO LAND MINT

@WHIKO_LAND is a hyped Asian mint that sold out at 0.036 ETH per NFT today. With close to 2000 sales on the day, this sits at a healthy floor of 0.13 ETH, giving great profits to minters. Like I said, Whiko Land looks to be a Chinese project with

5/ some fun art and a good roadmap. The mintable supply was 5555 because the team is reserving 3333 for chain franchise expansion and VC financing. This @WHIKO_LAND could be something to watch as Asia loves it.

6/ RIPPLE VS THE SEC

The legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) is coming to an end and it looks like the blockchain company will come out on top. This has been a drawn out case over cryptocurrency that

7/ a lot of the market has been watching. The token XRP has been most affected by this lawsuit, so it may make a comeback when the final results come out.

8/ OVERALL THOUGHTS

With the markets continuing to look very bleak, we have definitely seen people leave the market and take breaks. Not too many things are going on for investors and like before, projects are running out of funds thanks to no secondary action.

9/ This is an important time to reevaluate your projects and make sure they have a capable team that will be able to survive this bear. Thanks for reading and have a great day Kings. Follow if you enjoyed! 💵👑

This post is based on this twitter thread.

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