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Daily NFT/Crypto Market Update: Binance CEO Announces Announcement

Daily NFT/Crypto Market Update - 11/13/2022 | A Thread 🧵🧵🧵

OVERALL TRENDS

With what was looking like a rough day, we were able to inch out some gains thanks to the Binance CEO making a big announcement. I will go over that further down but BTC ended at just

1/ under 17k while ETH is still around the 1.25k zone. NFTs had a pretty bad day things were very uneventful. They continue to struggle thanks to bad market conditions and sentiment, so stay liquid.

2/ Degen mint of the day: CNP STUDENTS MINT

@CNPStudents is a 6k project that has minted 4k and will mint the rest in December. This is a @CryptoNinja_NFT Partners related project whose ties make them a notable play.

3/ Seeing over 1500 sales on secondary, @CNPStudents currently has a 0.09 ETH floor. Considering its background, we can expect this to be an important part of the Crypto Ninja ecosystem, so keep a sharp eye on this.

4/ JAPANESE PROJECTS EXCLUSIVELY OPENSEA

Something that you may or may not have noticed recently is that with the influx of Japanese projects in the space, they have exclusively been trading on @opensea Projects from brands like @CryptoNinja_NFT Partners have

5/ exclusively made it so their NFTs will only be buyable on @opensea This is to enforce royalties, something that could be a problem for the space if everyone starts adopting this. This all ties back to the royalty debate, so this is something to watch carefully.

6/ BINANCE CEO ANNOUNCES RECOVERY FUND

The @binance CEO @cz_binance said that he is forming an "industry recovery fund" in response to the collapse of FTX. Specifically, he said this will focus on projects that are strong, however, are experiencing a liquidity crisis.

7/ This announcement singlehandedly moved the market as we have already seen a big spike up following this news. It is great to see @binance supporting those affected, so it will be interesting to see who qualifies for this and how they roll it out.

8/ OVERALL THOUGHTS

With the NFT market being very dry and crypto remaining as uncertain as ever, it is very important to not get antsy on your funds and fomo into things. It happens to all of us, but try to be patient with your Ethereum and wait for market conditions to

9/ get better. Even in the bear market, we see mini bull runs, so just wait for a catalyst to appear to have a better chance of seeing a return. 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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