$ 47,481
$ 3,342.0
$ 175.39
okex ads

OpenSea’s daily volume is exceeding its 2020 total

Leading NFT marketplace, OpenSea, is now processing more transactions daily than it did during the entirety of 2020.

On Aug. 2, Devin Finzer, the co-founder and CEO of OpenSea, tweeted that the platform had processed $95 million worth of transactions in two days.

Finzer estimates that OpenSea processed $21 million in volume for the entirety of 2021, a the marketplace appears to have enjoyed an increase in daily transaction value by more than 650 times since 2020.

DappRadar data shows that OpenSea is extending its lead over rival NFT marketplaces, with SuperRare and Rarible currently representing daily volumes of $543,000 and $248,000 respectively.

While Rarible outperformed OpenSea in 2020, with the platform hosting more than $24 million worth of volume last year, OpenSea now represents 150 times the amount of Rarible’s volume. Despite sliding down the leaderboard, Rarible’s daily volume is up by nearly quadruple since 2020.

According to data from Dune Analytics, SupeRare processed around $6 million in transactions last year, equating to roughly $16,400 daily on average. As such, SupeRare’s volume has increased by more than 33 times since 2020.

The NFT sector saw meteoric growth at the beginning of this year before topping out in May, with Cointelegraph reporting in early June that total NFT sales had already declined by 90% from the market peak.

Despite the market tapering off in June, NFT sales still topped $2.5 billion in the first half of 2021.

According to data from DAppRader, OpenSea is currently leading the NFT sector by volume, followed by popular DApps Axie Infinity and CryptoPunks. The surging play-to-earn game, Axie, represents $27.12 million worth of daily transaction volume, while more than $5.5 million worth of CryptoPunks have changed hands in the last 24 hours.

Related: NFTs can be a good pathway to draw women into crypto, says Lavinia Osbourne

OpenSea recently attained unicorn status after closing a $100 million Series B funding round at a $1.5 billion valuation on July 20.

As part of the funding round, the platform announced plans to launch a “gas-free” marketplace on Polygon, in addition to a deployment on Dapper Lab’s NFT-focussed Flow blockchain.

Related Posts

Leave a Reply


Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

Salvadoran Court of Accounts to Investigate Government’s Bitcoin ATM Buys, Chivo Kiosk Construction
September 19, 2021By
El Salvador Offers Tax Exemptions to Bitcoin (BTC) Investors
September 18, 2021By
Opensea NFT Marketplace Claims Employee Profited From Insider Information
September 18, 2021By


Video Posts

Impact Of Technology On 4.0
July 6, 20210
Importance Of Cryptography
July 3, 20210

Crypto Stats

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin47,481 0.42 % 1.93 % 5.06 %
Ethereum3,342.0 0.90 % 3.45 % 2.26 %
Cardano2.340 0.48 % 1.73 % 10.43 %
Tether1.000 0.06 % 0.03 % 0.02 %
Binance Coin415.89 0.47 % 0.37 % 2.91 %
XRP1.060 0.67 % 1.95 % 1.27 %
Solana156.91 0.43 % 4.20 % 11.82 %
Polkadot33.98 0.81 % 3.27 % 8.10 %
Dogecoin0.2369 0.64 % 2.28 % 1.78 %
USD Coin1.000 0.05 % 0.08 % 0.10 %

You have not selected any currencies to display