• NFT Mania: OpenSea’s Daily Trading Volume Hits All-Time High of $78 MillionOpenSea’s Daily Trading Volume Hits All-Time High of $78 Million

  • The NFT craze is still alive and well as the OpenSea marketplace has become a popular destination and decentralized platform for trading non-fungible tokens (NFTs). Amidst the ongoing NFT craze, OpenSea has hit another milestone, with its daily trading volume hitting an all-time high of over $78 million on Sunday, August 8.

    In addition, the OpenSea NFT platform has reached major milestones in several areas. Let’s take a look at some of them.

    Since April 2021, monthly volumes have been growing exponentially. last month of July 2021, OpenSea’s monthly volume was $325.9 million. so far in August, monthly volumes have jumped 15% to a whopping $473 million.

    Total NFTs sold on OpenSea for the last month of July 2021 was 458,052. in the first nine days of August, we’ve crossed 50% of the market. So far this month, the total NFT sold in August is 314,474.

    In addition, OpenSea has indeed surpassed last month’s high for monthly active traders. The platform now has over 64,000 monthly active NFT traders.

    OpenSea trading volume exceeds $1 billion

    The ethereum-based OpenSea NFT marketplace has seen a solid jump in trading volume on its platform. According to data shared by Messari last week, OpenSea’s cumulative transaction volume has surpassed $1 billion this year.

    This major decentralized NFT marketplace offers NFT listing, trading, and NFT creation services. In addition, OpenSea has a robust explorer and search engine for NFTs.One of the most prominent aspects of NFTs is that it has a robust classification method for various NFTs, as well as a very modest transaction fee.

    This insane growth makes OpenSea one of the best destinations to launch NFTs. OpenSea alone has a huge 90% share of the NFT market. At the same time, the NFT gaming market has seen exponential growth, with transaction volumes surpassing those of the DeFi market.

    What's your reaction?