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Daily NFT/Crypto Market Update: Downturn Continues

Daily NFT/Crypto Market Update 11/21/2022 | A Thread 🧵🧵🧵

OVERALL TRENDS

The crypto market kept up with recent trends as it continued to see dips throughout the day. BTC has dropped to near 15.5k while ETH is just below the 1.1k mark. Crypto remains bearish unless a

1 /catalyst can bring it back up. NFTs have also continued their dry streak with not much going on, however, we have seen some plays catch fire as people get impatient on their ETH. Watch out for degen plays right now with traders getting very bored of the slowness of the market.

2/ Degen/free mint of the day: BORED Y00TS AC

@Boredy00tsAC is a 6969 degen collection that led the market in total sales for the day. Getting over 4500 sales on the day, this project currently sits at a healthy floor of 0.02 ETH.

3/ @Boredy00tsAC is a combination of BAYC and y00ts on the Ethereum chain, creating a mix of the top collections of each blockchain into one. This is a pure degen play that has just been riding it's derivative hype so tread carefully with this play.

4/ CEL MATES CRIME REPORTS MINT

@cel_mates premium collection that caught massive hype today. Seeing over 2200 sales on the secondary market, this project sits at a high floor of 0.52 ETH after minting out at 0.35 ETH.

5/ @cel_mates is an exclusive hub for

counterculture and creatives to gather that has plans to expand to a streetwear brand, restaurant and record label. This is a legit project that I will be keeping an eye on for further updates.

6/ JP MORGAN TRADEMARKS WALLET BRAND

@jpmorgan finally was able to register their trademark for their wallet after over 2 years of waiting by the US patent office. This trademark will extend to crypto services as well as others, and will have a service that

7/ allows for business ledgers. This has the potential to further Web 3 with its technology and outreach, so this could be something to dive deeper in as JP Morgan continues to enter the space.

8/ OVERALL TRENDS

The markets have been slow recently as people are still reeling from the bad FTX news we first saw happen around a week ago. Since then, people have been very passive with their funds and have smartly not tried to overextend their funds too long term.

9/ I would suggest doing the same as well atleast until the whole fiasco fully rolls over. 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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