Block Report: 19 October 2022

Your Blockchain Summary

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Sero

TLDR. Your summary of everything blockchain related:

  • Deutsche Bank headquarters raided by German authorities in tax investigation

  • A16Z launch crypto startup school

  • 2 Year low of Ethereum addresses sending to exchanges

  • Highest NFT sale on Cardano occurs with a $65,000 sale for Bored Ape Society, accompanying Cardano NFT engagement at an all time high

  • Blur Marketplace alludes to $Blur airdrop

  • Cryptopunk #9476 sold for 370 ETH ($493,309)

  • Uniswap announces deployment onto zkSync


Into the details:

Not much to report in markets which seems to lead ETH into being rangebound within the same $100 range. I don't seeing too much change here for a while however alot of the data looks very positive for Ethereum and cryptocurrencies in general. Usually when we hit lows of crypto being sent to exchanges it means people aren't as interested in trading or selling, and instead, holding. A pretty positive sign in the current dull markets.

NFT's:

A general mention to exercise extra caution when looking at dramatic changes in floor price or volume. It's very easy to wash trade in the current market and a very small amount of sales can drastically alter how a project's floor is perceived. Just look at Digidaigaku's 200 ETH sale which skyrocketed it to 3rd in the Opensea volume leaderboard with one sale.

To look out for:

  • Matic/Polygon continuing to innovate and form incredible partnerships may not necessarily mean it's the best time to buy after a recent price spike, but generally their continued announcements and ability to tie themselves into tech across the space make this one to have notifications turned on for.

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*Disclaimer: None of the above represents financial advice.

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