The total market value of NFTs has risen back above $6 billion, reaching its highest level since early February
PANews reported on July 21 that according to The Block, Coingecko data showed that the total market value of the global NFT market has risen to US$6.04 billion, up 16.9% in the past 24 hours, reaching its highest level since early February. In addition, data from CryptoSlam showed that in the past 24 hours, global NFT market sales surged 154% to US$41.4 million. It is worth noting that according to OpenSea, the giant whale with the address "0x1bb351...72d6" spent more than 2,080 ETH today to purchase 45 CryptoPunks NFTs. In the past 24 hours, the CryptoPunks floor price rose 15.9% to 47.5 NFTs.
Nick Ruck, director of LVRG Research, said that when Bitcoin was consolidating, altcoins such as Ethereum and the NFT market gained momentum due to overall gains and a rebound in risk appetite. Traders have rekindled their interest in mainstream NFT projects such as CryptoPunks, believing that their prices are undervalued and may usher in a second wave of market conditions, and that this round of bull market may exceed last year's short-term rebound. However, Vincent Liu, chief investment officer of Kronos Research, believes that the long-term demand for NFTs depends on the activity of wallets.
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Crypto execs met with US lawmakers to discuss Bitcoin reserve, market structure bills
Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week. Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more
