NiftyNoon: How Will the ETH Shanghai Unlock Impact NFTs?
With a major unlock of staked Ethereum happening, many are speculating how this will impact NFT prices (April 12, 2023)
Nifty Thought
A major unlock for Ethereum is approaching that is likely to dramatically impact prices one way or the other. On one hand, some expect the unlock of Ethereum to increase selling pressure dramatically in a manner that will result in decreased Ethereum prices. On the other hand, others expect that the increased sell pressure of Ethereum is priced in as shown by the recent poor performance of Ethereum relative to Bitcoin. Regardless of the outcome, history has shown one thing to be true: cryptocurrency volatility generally leads to decreased NFT prices. When the price of Ethereum rises or dips dramatically, people generally liquidate NFTs quickly as they seek the opportunity to be able to quickly move their cryptocurrencies into and out of Ethereum as needed. While increased liquidity through Blur Bidding and staggered OpenSea bids has mitigated this reccently, the trend has still remained true thus far.
Project News
Reddit experiences technical issues during Gen 3 Avatars launch, but addresses them with the shop now back online:
https://twitter.com/reddit/status/1645898388590690307?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
PRguitarman shares details on his novel Nyan Cat Reddit Avatar:
https://twitter.com/prguitarman/status/1645500045851230209?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Ethereum’s shapella upgrade goes live:
https://twitter.com/banklesshq/status/1645889011649748992?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
SquiggleDAO announces squiggledao.com 2.0, the ultimate resource for anything Chromie Squiggle:
https://twitter.com/squiggledao/status/1645836757378662427?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Cool Cats announces they have partnered with futureverse to bring new products and experiences to their community. A custom marketplace, 3D explorations, asset personalization, AI tools, and more:
https://twitter.com/coolcats/status/1645822612034162690?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Truth Labs announce starting today, metadata for all goblintown and secretsociety, The187 and Grumpls has been refreshed:
https://twitter.com/truth/status/1645850073392349184?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Blocky Doge 3 free mint, ‘a parody of web3 and crappy NFT sets’, owner mints 1650 NFTs for himself and then begins dumping them:
https://twitter.com/BillyM2k/status/1645849273362432001?s=20
https://twitter.com/rs6ghost/status/1645880510776745985?s=46&t=i5VkmyVvJMtUoRCnE2RLwA
nft now announces the NFT100, recognizing 100 influential creators & 100 community leaders for achievements over the past year in web3, is here:
https://twitter.com/nftnow/status/1645834642690277383?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Doodles Community Council applications are now open, through April 17th:
https://twitter.com/doodles/status/1645509648508674056?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Community News
Pastel Alpha group manages to hit a good amount of Reddit avatars before the hour, even though the site completely died, thanks to custom Reddit monitor by one of their members:
https://twitter.com/PastelAlpha/status/1645843534099124225?s=20
Quick Stats:
OpenSea Daily Volume: 3,825 ETH (▼ 21.84%)
Blur Daily Volume: 13,740 ETH (▼ 2.60%)
BTC: $29,945.33 (▼ 0.45%)
ETH: $1,868.09 (▼ 2.62%)
Solana: $23.45 (▲ 4.6%)
Polygon: $1.09 (▼ 3.27%)
NFT Daily Winners:
🌈 Doodles: 2.68 ETH (▲ 0.15%)
🏳️🌈 Chromie Squiggles: 9.00 ETH (► 0.00%)
NFT Daily Losers:
🦉 Moonbirds: 3.11 ETH (▼ 0.18%)
🧟 Mutant Ape Yacht Club: 12.97 ETH (▼ 0.26%)
🚬 CryptoPunks: 56.72 ETH (▼ 0.35%)
🐧 Pudgy Penguins: 4.17 ETH (▼ 0.60%)
🧝🏼♀️ DigiDaigaku: 4.30 ETH (▼ 1.15%)
🧬 Clone X: 2.73 ETH (▼ 1.45%)
🦧 Bored Ape Yacht Club: 57.65 ETH (▼ 2.02%)
🥃 Proof Collective: 11.38 ETH (▼ 3.4%)
⛩️ Azuki: 13.53 ETH (▼ 6.17%)
🐈⬛ VeeFriends: 2.99 ETH (▼ 7.72%)
Notes:
If you find quick daily NFT updates helpful, please feel free to subscribe:
The content on this site is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice.
Managed by @AxuETH, @NPapaellinas, @SharkFragile, @SpeedyGonzale87, @SSPxLEO and @xhuewa