Today we're going to take a look at the state of OpenSea✔️

Recently it became known that OpenSea is introducing a new Deals tool for exchanging NFTs between users. NFT can be exchanged with or without additional payment in any direction. All exchanges take place inside the platform itself, which excludes the possibility of phishing. The tool is based on the Seaport protocol praised by the developers.

💡Information about at least some updates of OpenSea very loudly swept through the crypto community and gave nostalgic memories of the "golden times" of the platform. Let's take a look at how things are going right now for the NFT marketplace, which has been the giant of its segment for a long time.

🦎Data from CoinGecko, shows that NFT trading volume fell 35% (from $4.84 billion to $3.15 billion) in the second quarter of 2023, despite the growing popularity of Bitcoin Ordinals. Bitcoin-NFTs have been of particular interest to the crypto community this month, with 385,600 new tokens issued on July 16 alone. This is one of the highest numbers since the launch of Ordinals. Ethereum, on the other hand, still continues to dominate the NFT sector, taking 83% of the volume, so let's focus on this network.

📉So, Blur now ranks first in trading volume among Ethereum-based NFT marketplaces. CryptoRank calculated that the amount of transactions on the Blur platform for a month passed $0.5 billion. OpenSea finally lost the leadership: the amount of transactions on this platform amounted to only ~$114 million (five times less). It should be noted that OpenSea continues to be number one by the number of active users, but the volumes leave much to be desired. Perhaps it is this defeat in the competitive race that made OpenSea think of ways to motivate users to be active. One of them is Deals.

📈The NFT barter exchange system opens up an opportunity for experienced collectors to make a profitable exchange, because many NFT-holders do not look at the rarity of NFTs. There is a good chance to exchange your NFT for a rarer one. Deals are also convenient if a collector wants to build a portfolio of specific NFTs, because now he doesn't have to spend all day on selecting NFTs, he can just offer an exchange (up to 30 NFTs at a time).

🧐And a bit of sad information: Deals gives way to new types of scams - scammers will try to deceive naive users, offering them not the most favorable exchanges, trying to catch newbies in a mistake. In any case, many people welcomed the innovation positively.

Do you hold NFT as an investment ?

👍 - Yes

👎- No

#NFT #Worldcoin #opensea

Many people have the idea that market makers are all-powerful in the crypto market. They determine the fate of the market, and we are just their puppets. But is this true?

⚡️Who they are and what they do

✍️A market maker is that market participant who, for a certain fee, can "draw" almost any chart of your token, if you are willing to give enough money to pay off and pump the coin.

🔵That is, the market maker decides the fate of the token by pressurizing the number of coins.

🔵That's why most often the team, funds and close people of the project have a huge amount of tokens on the listing. More than 50%.

🪙To successfully influence the price of a token, even 30% of the coins of the entire network is enough. Owning 50% will be difficult, because the coins may be in steaking or in hold.

🔩The work of a market maker

There is one main rule: squeeze out the maximum profit in specific conditions.

📈Each project has its own audience and its own limits to which it is profitable to pump token. The bigger the community, the more you can pump the coin, because more people will buy it.

🔵It turns out, market makers can pump and dump tokens. However, usually only tier 3 and tier 5 projects. Top projects work differently.

🔼Tier 1 projects

👀Market manipulators are getting into the game. We don't know the companies or people who work with them directly. We are left to hypothesize.

🔵They work on the same principles as market makers, but affect all cryptocurrencies: Bitcoin, Ethereum, Link.

💰Considering that Bitcoin at its peak was 1%-1.5% of the global economy. Most likely some manipulators are working with very significant people.

💡Market makers and manipulators are the link in the market that makes it grow. It's important to understand their logic to really make money in the market.

Do you follow the big players in the market?

👍 - Yes

👎 - No

If you haven't been following the Curve situation. Here's a good explanation of why this event could turn into a black swan for the entire industry.

💡According to Defillama, if CRV falls below $0.375, Aave will liquidate 300 million CRV ($114.2 million) - almost all of them owned by Curve's founder Mikhail Egorov. The problem is that there isn't a single exchange or protocol that can absorb that kind of volume. Egorov borrowed 60 million USDT against the collateral provided by CRV. He has similar smaller positions in a number of other protocols: Frax, Abracadabra, Inverse, Silo. All have a health level of ~1.6. Periodically, Egorov pays off some debt to keep the ratio from dropping. You can track positions here.

❌The problems started on Sunday with the Vyper vulnerability, which allowed hackers to brick some pools of Curve and other protocols. This caused the price of CRV to collapse, and loans that were healthy are now nearing liquidation.

⚡️The problem is the lack of liquidity of CRV - if you examine pools with this token, you can see that there is almost no ETH in them. The situation is the same on centralized exchanges. On Binance there are 8 million limit orders for CRV at 0.30. On OKX, there are 1.3 million CRVs. Liquidating 300 million CRV in Aave at a price below 0.37 would be problematic, so the protocol risks being left with bad debt that won't be repaid.

🤔What to do with this information? To minimize risk, you can exit positions in Aave or any other protocols where CRV is actively used as collateral. It also wouldn't hurt to withdraw liquidity from Curve pools in all networks (the protocol itself recommends withdrawing from Tricrypto in Arbitrum).

👀It is quite possible that the situation will be resolved favorably - a further drop in CRV and liquidation of positions will damage the whole industry, so there is a possibility that other whales will intervene in case of a further drop. However, as experience shows, it is better to watch such situations from the sidelines - then the maximum you will lose will be gas spending.

Do you use exchange services?

👍 - Yes

👎 - No

Retrodropes. retrodrop. retrodrops. Virtually everyone who is not just in trading is paying attention to them now. Is that a good thing?

⚡️This is a new popular branch in crypto which is growing more and more. A lot of people have come into this niche even those who had little or no interest in cryptocurrency before.

🪙They started gaining popularity after many people made a Life Change on Arbitrum or another big project (Blur, Aptos). As you can see, the previous projects have already set a certain bar in the size of drops and if another large project gives out many times less, it will be the first call.

🟪But what if there is no drop at all?

🫂Multi-accounting has become a part of retrodrops, now every second person has a farm of accounts and drives them into projects. This is what could ruin them. It can happen that the projects simply do not have enough money for everyone and if drops will be, they will give out 10-100$ at about the same cost per account.

🦄When such projects as UniSwap were giving out drops, there were not such a large number of users.

Because of this, there will probably be a "zeroing out" after a while when the same L0 (or other big project) cancels for everyone and there will be no dropship. There will definitely be a big razor from a first tier project and it's interesting to speculate from which one.

🪂How will this affect airdrops?

📈As sad as it will be, it will most likely affect it in a positive way. Many people will have no desire to do other drops, thus in other projects competition will fall, and therefore projects will give more coins. Consequently, the share of potential drops will not be so diluted!

🟢As long as there is a proper hype on retrodrops, we need to take advantage of it, because in the future there will be no such chance! Even if L0 does not show the result, you do not need to stop, and take yourself in hand and do other projects, as your chances of Life Change will grow by leaps and bounds.

Do you do activity in projects?

👍 - Yes

👎 - No