Did Ethereum just bottom?

Welcome to another issue of NFToday; thanks so much for stopping by!

For my U.S. audience, tomorrow marks the 4th of July, here's to being parotic!

Surprisingly enough, the small town I live in celebrates the holiday on the 3rd of July due to budgeting or something. There's an annual firework show, and everyone gets together!

I hope you got your sparklers ready; enjoy yourself, frens!

Now, on to the news!

- Hunter Maier

⛵ Seaport continues to innovate!

📉 Holding?

📈 Some NFT analytics...

God Hates NFTees - .5 ETH

DegenTown - 7.99 SOL

WZRDS - .27 ETH

Moonrunners - .39 ETH

Note: Floor prices of these may or may not be different when reading this!

To distract us from the current fear-filled blood bath that is the crypto market, OpenSea's marketplace protocol, Seaport, has blessed us with some exciting and useful new features!

Included are four new features!

1) Collection Attribute Offers: You can now place trait-specific collection offers on a collection. For example, say you won the lottery and were in the market for a new Solid Gold Fur Bored Ape. Rather than placing a WETH offer on each shiny ape, you can submit a solid gold trait offer to each of the 46 apes outfitted with said fur.

Collection Attribute Offers will only be activated if/when a collection owner opts in via OpenSea's backend dashboard.

2) Solscan Integration: Solscan has been named OpenSea's official SOL blockchain explorer. Think etherscan, but for SOL!

3) Solana Speed Improvements: OpenSea's SOL marketplace's event load times are now up to 80% faster!

4) API Updates: OpenSea Stream API users are no longer required to use an API key to the platform's testnet network. While I could sit here and try to explain this, nothing I said would make sense... Instead, here's a doc with more info (and just as many confusing terms)!

It's always nice to see new features (much-needed ones at that) on the dominant platform used to buy and sell our beloved NFTs; keep killing it, OpenSea!

Dare I say that Ethereum isn't looking too bad!

While volume is low, there's clearly some fighting between the bulls and bears.

Considering how tight those doji candles are, a hold and bounce off of $1,000 might be imminent!

To add, ETH's price action seems to be steadily holding just above the RSI's "oversold" line.

Could this be ETH's bottom?

In January, NFT volume peaked at just over $12.5B.

In June, NFT volume totaled just over $1B.

Alongside the crypto crash, it's clear NFTs came down with it.

According to Chainalysis, June 2022 marked the worst performance since the same month last year when sales amounted to $648M.

"This decline is definitely linked to the broader slowdown in crypto markets...Times like this inevitably lead to consolidation within the affected markets, and for NFTs we will likely see a pullback in terms of the collections and types of NFTs that reach prominence."

- Ethan McMahon, a Chainalysis economist.

To put everything into perspective, at its peak, the crypto market was worth approximately 3 trillion; today, it's worth less than 1 trillion.

Does this mean I'm bearish on NFTs in the long run? Of course not. When people slowly begin to understand that there's more to NFTs than just "buying jpegs," an increase in volume will follow!

Stay patient, fren!

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• 👍 IT WAS INCREDIBLE!!!

• 😐 It was alright!

• 👎 Could've been better.

Nothing mentioned above is financial advice, this newsletter is created for nothing more than entertainment purposes!