Header logo
  1. Research
  2. Crypto Research
  3. Market Update

OpenSea Discontinues Royalty Enforcement Tool, Securitize Acquires Onramp Invest

Aug 18, 2023
Author
Walter Teng, CFA
Walter Teng, CFA AC
Market Update Despite yield reversal on bonds, equities market continue their retracement. Yields on the US10Y retraced 0.11% to 4.23% after peaking midday yesterday at decade-plus highs. Equities markets followed suit to reflect surging borrowing costs on future earnings, with the $SPX and $QQQ retracing 0.4% and 0.5%, respectively. Yesterday's bloodbath in crypto markets also continued, with $BTC and $ETH slipping by 7.4% and 6.1% in the past day. This move down has predominantly been led by the majors. The total crypto market cap currently sits at $1.1T, with BTC and ETH dominance slipping to 69% from late July's highs of 72%. OpenSea Discontinues On-Chain Royalty Enforcement Tool. Introduced in November 2022, the tool aimed to ensure NFT creators received fees from secondary sales. However, the tool lacked widespread support and was bypassed by NFT platforms like Blur, Dew, and LooksRare. While the fees aren't entirely disappearing, their enforcement will be optional. Collections using the Operator Filter, especially those on non-Ethereum blockchains, can ensure creator fees until Feb. 29, 2024. While some view it as a setback for artists relying on royalties, others feel the decision might be a corrective measure against excessive profit-making. This development is seen

Unlock this page with a FREE 30-Day Trial!

*Free trial available only on a monthly plan

Already a member?

Reports you may have missed

Bitcoin Equilibrium Price Likely to Top $168,000 Following ETF Approval, FSInsight Says

CRYPTO MARKET UPDATE U.S. EQUITIES ARE CONTINUING THIS WEEK’S SELL-OFF, WITH THE SPY -0.71%  AND QQQ -0.94%  BOTH DECLINING APPROXIMATELY 0.28%, WHILE THE DXY N/A% AND TREASURY YIELDS INCH UPWARDS. In contrast, BTC 0.95% is moving sharply higher, trading at $65.8k, with rumors circulating that former President Trump will unveil plans to add Bitcoin as a strategic reserve at next week’s Bitcoin conference. ETH 0.03% is trading at $3,450 ahead of potential S-1 approval after...

BONK 1.63% BTC 0.95% DXY N/A% ETH 0.03% JUP -8.65% QQQ -0.94% SOL 4.53% SPY -0.71% WIF 11.46%
Art Rachen YJpjLD3c9bU Unsplash

CRYPTO MARKET UPDATE THE CRYPTO MARKET MOVED HIGHER IN THE EARLY MORNING HOURS AND IS NOW CONSOLIDATING POST-US MARKET OPEN. BTC 0.95% once again challenged the $65k level and is currently sitting just below it, following the ninth consecutive day of net inflows for BTC 0.95% ETFs. ETH 0.03% is showing outsized strength, likely due to ETF issuers filing their final documents yesterday afternoon, with the ETF launch expected on Tuesday (more on...

BTC 0.95% ETH 0.03% ETHBTC JUP -8.65% SOL 4.53% USDT -0.03% WIF 11.46%
Bitcoin rises back toward record as first related U.S. ETF begins trading

CRYPTO MARKET UPDATE U.S. EQUITIES ARE MOVING SHARPLY LOWER AMID CHINA TRADE FEARS AFTER THE BIDEN ADMINISTRATION STATED IT'S CONSIDERING IMPOSING SEVERE RESTRICTIONS ON CHIPMAKERS IF CHINA CONTINUES RECEIVING ACCESS TO ADVANCED SEMICONDUCTOR TECHNOLOGY. The SPY -0.71%  has dropped below $560 while the QQQ -0.94%  is showing more pronounced losses, falling to $484. Crypto is relatively flat, with BTC 0.95% trading near $65k. Bitcoin ETF flows continue their positive streak, posting the eighth...

BTC 0.95% ETH 0.03% FIL 0.35% LDO -3.05% LPT -2.29% NEAR 1.29% QQQ -0.94% RNDR -0.22% SPY -0.71% TAO -1.32% WLD -0.60%
Bitcoin could soar an additional 38% after topping its record high of $65,000, according to Fairlead's Katie Stockton

CRYPTO MARKET UPDATE AS EXPECTED, BTC 0.95% AND THE WIDER CRYPTO MARKET MOVED LOWER ON THE NEWS THAT THE MT. GOX TRUSTEE HAD TRANSFERRED BTC 0.95% OUT OF THE TRUSTEE WALLETS TO PARTNER EXCHANGES. However, the market has since rebounded, with BTC 0.95% pushing $65k after touching $62.5k in the early morning hours. ETH 0.03% has also rallied, though it is slightly lagging despite the upcoming launch of ETH 0.03% ETFs next Tuesday. ETF flows...

AR -5.68% BCH -0.82% BONK 1.63% BTC 0.95% ETH 0.03% ETHBTC PEPE 2.13% SOL 4.53% WIF 11.46% XRP 4.83%
FS Insight

Sign in to read the report!

We have detected you are an active member!

or

Sign in with Google

Sign in with Twitter
Ray: f5fd92-e22639-fa7c92-d9b71b-181f74