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NFT/Crypto Market Update: MOMYTH by Tenterhooks

Daily NFT/Crypto Market Update 11/15/2022 | A Thread ๐Ÿงต

OVERALL TRENDS

Although we saw some upwards movement earlier in the day thanks to the PPI Report, we ended the day with some small gains in the crypto market. BTC is hovering below the 17k zone while ETH is around 1.2k.

1/ NFTs have been really slow as of late as people continue to tank floors as they liquidate their assets and take a break from the market.

2/ Degen mint of the day: MONOMYTH by HEART YOU

Monomyth by @XXHeartYou is a 10k collection of customized hearts that led the market in sales today. Getting over 2100 sales on secondary, this currently sits at a floor of 0.043 ETH.

3/ Monomyth is the universal story about the transformation of the hero inside all of us. A lot of people are vibing with the art as it is by UltraDAO curated artist @XXHeartYou.">@XXHeartYou

4/ CASTAWAYS TREASURE CHESTS AIRDROP

@castaways_gg Treasure Chests is the 3rd collection for Castaways by Branch. Seeing over 1300 sales on secondary, this project currently has been hovering around a 0.05 ETH floor.

5/ @castaways_gg Treasure Chests were airdropped active members of their game and will be burnable for sweet rewards. Castaways is a island survival sandbox game that is functional so this could be something to check out if you are a gamer!

6/ US PPI REPORT

The US October PPI Report came out today looking better than expected. This led to stocks seeing a surge as they reacted positively to the news. PPI stands for Producer Price Index and it measures the average change over time in the selling prices received by

7/ domestic producers for their output. These are a lot of words but it basically means we are headed in the right direction. Despite this news, however, market sentiment is still very bearish and expectedly so.

8/ OVERALL THOUGHTS

Despite the PPI news today, it is still very clear that the market sentiment is very bearish. People continue to be liquidating their funds and taking them out of exchanges and this probably won't stop in the short term.

9/ FTX really scared people and combine that with high inflation rates etc, we have to look far in the future for all investments. Thanks for reading and have a great day Kings. Follow if you enjoyed! ๐Ÿ’ต๐Ÿ‘‘

This post is based on this twitter thread.

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