OpenSea NFT marketplace trading volume tops $3 billion since early August

Over the past 30 days, the NFT-focused OpenSea platform’s trading volume reached $3.11 billion, according to DappRadar. In the month, the marketplace recorded more than 195,000 unique users who conducted 2.22 million transactions.

According to Dune Analytics, in August the marketplace’s trading volume exceeded the previous month’s figure (~$326 million) by more than 800%. Its users sold 1.6 million NFTs on the platform, which is 3.5 times higher than the July result.

Delphi Digital analysts noted OpenSea’s dominance. They estimate that in August the marketplace captured 95% of the NFT market. On Sunday, August 29, the platform’s daily volume reached a new all-time high, surpassing $300 million. Over the month, its unique users more than doubled.

2/ @OpenSea continues to dominate the NFT market, accounting for over 95% of total volume. Daily volume hit an all-time high this Sunday with a $300M turnover.

Since June, the number of unique users that have interacted with OpenSea has more than doubled thanks to the NFT mania. pic.twitter.com/tKpPpx9JwK

— Delphi Digital (@Delphi_Digital) August 30, 2021

The rapid growth in trading volume comes amid the buzz around CryptoPunks and Bored Ape Yacht Club projects. The company behind the latter, Yuga Labs, earned $96 million in just one hour on the spin-off launch on August 28.

As of now, the floor price of Mutant Ape tokens has more than doubled their mint cost. Bored Ape Yacht Club and Mutant Ape Yacht Club occupy the third and fourth spots in OpenSea’s monthly trading-volume rankings, respectively.

In first place, CryptoPunks led with 219,336 ETH, while Art Blocks Curated was second (119,089 ETH).

Earlier, the payment system Visa bought the NFT CryptoPunk for $150 000. The deal immediately translated into user activity — within an hour of the announcement, the token creator Larva Labs sold more than 60 NFTs. The price of each lot exceeded $200,000.

On August 25, to mark its seventh anniversary, ForkLog unveiled its own NFT collection. The auction runs until September 1.

In August, OpenSea product manager Nate Chastain said there was a staffing shortage.

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