NFT volume is down 99%

Hey, and welcome to another issue of NFToday!

What are your plans going into the weekend?

I'm planning to hit the beach; this heat wave, in combination with the ocean, sounds like a match made in heaven!

Have fun, and stay safe, frens!

Let's get on with the news :)

- Hunter Maier

• Bye Bye Volume :9

• Downside :(

• Get Married in the Metaverse!

OpenSea trading volume is down 99% since its all-time high back in May this year!

May 2022’s Volume = $2.7 Billion

Last Week's Volume = $9.34 Million

Despite the decrease in momentum, OpenSea has admitted to playing the long game:

"We're playing the long game because we see what's possible, so we're not that concerned about short-term volatility. We always expected frothiness, hype, and deflation as the community and use cases evolve, the tech gets more sophisticated, and creators figure out how to build more utility into their projects."

-OpenSea Spokesman

Nevertheless, $9M isn't a number that shouldn't be ignored.

It's safe to say that OpenSea is still the preferred marketplace of many NFT investors and traders!

After the confirmed head and shoulders we faced last week, another bearish formation might follow.

From the looks of it, we're seeing bullish momentum following a bounce of the $1,425 level!

Despite some green, it's very well possible we could be seeing a bear flag forming!

Let me know your view on this on Twitter; I'd love to know!

Ethereum's transition to Proof of Stake has officially been scheduled to occur mid to late September

Despite the confidence of Vitalik and Ethereum’s current developers, many are skeptical as the merge could come with some issues!

Read more from this Decrypt article here!

Ready or not, here we come!

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