Blur accounts for around 80% of NFT trading volume on the Blur NFT marketplace, while OpenSea’s share has fallen to around 17%. The Block reports these figures The Block.
Blur has managed to strengthen its position amid a surge in user activity observed since November.
According to the publication, last month NFT trading volume on Ethereum-based marketplaces totaled $605 million. By comparison, the figure was $306 million in October.
Between December 1 and 4, the metric reached roughly $90 million, with around $70 million accounted for by Blur.
The shift in leadership in the space has been evident since February this year. Blur and OpenSea account for nearly 97% of trading volume.
Activity is also rising on Solana-based NFT marketplaces. The daily volume on November 30 reached its highest since April 2023, at $9.3 million. The bulk of that volume was on Tensor ($5 million).
On November 24, Binance opened trading of the Blur (BLUR) NFT marketplace token in pairs with Bitcoin, USDT and the Turkish lira. In the run-up to and after the listing there was positive momentum around the asset, driven by the hype surrounding the project’s second season of the airdrop, which concluded on November 21.
Additionally, the launch of the L2-native yield protocol Blast from the developers of the NFT platform could have influenced BLUR’s price. On November 25, the project’s TVL reached $443 million.