NFT Morning Minute | CPI Day of Reckoning

NFT Morning Minute | CPI Day of Reckoning

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Take a minute to catch up on the latest in the web3 space. Here are today's NFT market analysis, top movers, and upcoming mints:

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NFT Total Volume

NFT Floor Price Increase

NFT Floor Price Decrease

Upcoming NFT Mints

Tyler Warner's NFT Market Summary

Wednesday was another incredibly slow day in the NFT market, with just 7,137 ETH traded on OpenSea. At just $9.2 million, the last four days are officially the lowest volume days of 2022.

The SEC probe is a potential driver, along with today's major CPI print for September inflation. The general consensus is 8.1 percent, and if the number comes in above that, markets could spiral downward especially given the turmoil with UK pension funds, and we likely see the lowest volume day of 2022. A lower inflation number could be a boon for risk assets though and is what most participants are rooting for today.

*Update CPI came in at 8.2 percent.

The crypto markets took a surprising dive this morning ahead of the CPI news. BTC and ETH are at $18,750 and $1,244, down 2 percent and 4.2 percent respectively. Altcoins are down much more, with Solana down 15 percent to $28.85 and $APE down 17 percent to $4.32. Crypto has held up well compared with the equity markets that have been falling hard in the past few weeks and perhaps these red candles are just catch-up action. 

For NFTs, Azuki Spirits are hot, with two selling for 200 ETH and 120 ETH this morning. The YuGiYn project debuted yesterday with nearly 1,000 ETH volume and reached a 0.25 ETH floor, making it the only project to catch any real volume. Bored Ape Yacht Club (BAYC) also rebounded 5 percent back to a 78 ETH floor, erasing the dip from the SEC probe news. Recent runner Street Machine retraced 17 percent to 0.289 ETH after its recent run, as the main loser on the day.

NFT Total Volume*

  • Mutant Ape Yacht Club (327 ETH, 13.5 ETH Floor Price)
  • Otherdeed for Otherside (244 ETH, 1.77 ETH Floor Price)
  • Bored Ape Yacht Club (222 ETH, 77.8 ETH Floor Price)
  • CryptoPunks (208 ETH, 66 ETH Floor Price)
  • CloneX (194 ETH, 8.66 ETH Floor Price)

NFT Floor Price Increase*

  • The Stoics (103%, 0.34 ETH Floor Price)
  • Fontana (61%, 2.43 ETH Floor Price)
  • Impostors Genesis Aliens (22%, 0.6 ETH Floor Price)
  • DigiDaigaku Genesis (19%, 14.95 ETH Floor Price)
  • Terraforms by Mathcastles (13%, 1.36 ETH Floor Price)

NFT Floor Price Decrease*

  • Meta Monopoly (-21%, 0.59 ETH Floor Price)
  • Street Machine (-21%, 0.29 ETH Floor Price)
  • Looki (-18%, 0.99 ETH Floor Price)
  • Jenkins The Valet (-17%, 0.35 ETH Floor Price)
  • QWERTY (-13%, 0.47 ETH Floor Price)

Upcoming NFT Mints

  • Hidden Kitty City (11 a.m. ET)
  • OVERBORNE (12 p.m. ET)
  • Anthony Hopkins - The Eternal (3 p.m. ET)

The drop of the day is likely the Anthony Hopkins - The Eternal project, which is an OpenSea collaboration. The mint is a bit pricey at 0.25 ETH but is balanced by just 1,000 total supply. Given the liquidity that has flowed to recent OpenSea mints (i.e. Probably A Label), this should receive some attention today. But if the CPI print comes in too high, all bets are off.

For all volume and floor price data, see Lucky Trader's Project Rankings page.

For all upcoming mints, see Lucky Trader's Project Schedule page.

*data retrieved at 8:00 a.m. ET. Volume and percentages are last 24 hours. There is a 0.25 ETH minimum on the projects listed in this roundup.

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