NFT Capitulation?

Traditional markets don't have a lot to write home about, most things are basically unchanged. Interest rates are hovering in the same range they have been for the past few days. Tech earnings will be coming out next week, which could have an effect on the macro.Crypto is slipping, ETH is down to the low 1900's and the meme coin rallies have seemed to slow down with most falling into the red after the past few days of hype.It seems that the market may have expected more of a sell off with the banking crisis, and since they didn't see a massive dip, the markets are slowly working upwards.Separately, a thread went out talking about the security of the Bitcoin network becoming more vulnerable as time goes on, and the number of coins being reduced through the token mechanics. This could be one of the reasons it has been underperforming lately, but who is to say?Not pretty out there in the world of NFTs, if anything there has been a bit of accelerated bleeding going on. A bloodbath across the board with collections like Doodles approaching the single ETH range.The number of active wallets as well as floor prices have been declining, which is a terrible correlation to see. This all still feels like it will continue with the BLUR farming going on. @rektmando speculates that things could get even worse and to be prepared to see more blood. However, this is nothing new for the crypto and NFT world, we have lived through a thousand bull/bear cycles with major pullbacks. This one does have a different feel because of the major collections diving along with the overall sentiment.Last week there was euphoria everywhere and this week the vibes have shifted significantly. The IRL meetups always help to reaffirm the path and give confidence in everything that people are building. If you are feeling rekt, try to go to an irl event. It will help 1000%!This period of time will likely shape and shift the landscape of NFTs. The magic that exists in these different communities is not going anywhere, and the people showing up everyday are not chasing .001 eth flips, but rather building long lasting relationships and helping to advance the tech.@DegenzNFT announced Degenz Code! It requires burning either the Degenz gold pass or the Degenz access pass to redeem the new Degenz Code asset with pixelated art that was created by @TimpersHD! There will be codes hidden throughout the Degenz universe, and holders will be able to use these codes to redeem art.We had @cemhah on to talk about the STUBS burn today featuring his work. There are two amazing pieces available. This week's mint is available for 2 days with an open amount of supply. If you have a STUBS mint pass you will be able to burn without any FOMO The RugDAO has 4 proposals open for voting right now, and voting is live for 3 more days!. The DAO is essential to advancing our decentralized efforts so please take part, go look at the proposals, vote, and maybe even think about submitting your own proposalGM! Hosted on Acast. See acast.com/privacy for more information.https://linktr.ee/rugradio