{"id":323803,"date":"2021-08-13T15:57:33","date_gmt":"2021-08-13T12:57:33","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/opensea-trading-volume-explodes-76240-ytd-amid-nft-boom\/"},"modified":"2021-08-13T15:57:33","modified_gmt":"2021-08-13T12:57:33","slug":"opensea-trading-volume-explodes-76240-ytd-amid-nft-boom","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/opensea-trading-volume-explodes-76240-ytd-amid-nft-boom\/","title":{"rendered":"# OpenSea trading volume explodes 76,240% YTD amid NFT boom"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a26b74b56f0c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a26b74b56f0c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/opensea-trading-volume-explodes-76240-ytd-amid-nft-boom\/#NFT_boom\" >NFT boom<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/opensea-trading-volume-explodes-76240-ytd-amid-nft-boom\/#Sales_are_up_but_active_wallets_matter\" >Sales are up, but active wallets matter<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># OpenSea trading volume explodes 76,240% YTD amid NFT boom <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Trading volumes on peer-to-peer nonfungible token (NFT) marketplace OpenSea have surged by over 12,000% in 2021.<\/p>\n<p>D<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>Radar data <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dappradar.com\/ethereum\/marketplaces\/opensea\">shows<\/a> that the total incoming value to OpenSea\u2019s smart contracts increased to $56.07 million on Wednesday compared to $73,556 on Jan. 1. Meanwhile, the marketplace\u2019s user count increased from 315 to 14,520 in the same period \u2014 a 4,423% increase.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/5c1f706e-99af-46b1-89b3-69de551f68f0.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>OpenSea historical activity. Source: DappRadar<\/em><\/figcaption><\/figure>\n<p>A major portion of OpenSea\u2019s trading volume spike happened after June. At the start of the month, the capital entering the marketplace\u2019s smart contracts was just $3.6 million. But by Sunday, it had surged above $71.238 million. <\/p>\n<p>What\u2019s more, on the previous 30-day average alone, OpenSea processed 1.18 million transactions worth $1.06 billion. The marketplace\u2019s cumulative volume year-to-date was $1.02 billion as of Aug. 2, according to Messari.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">OpenSea has officially surpassed $1 billion in gross market volume after a record few days.<\/p>\n<p>More impressively <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/opensea?ref_src=twsrc%5Etfw\">@opensea<\/a> facilitated $1 billion in volume in 2021 alone!<\/p>\n<p>2018 \u2013 $473k<br \/>2019 \u2013\u00a0$8 million<br \/>2020 \u2013 $24 million<br \/>2021 (YTD) \u2013 $1.02 billion<\/p>\n<p>Just absolutely insane growth. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/loH0jw5cqr\">pic.twitter.com\/loH0jw5cqr<\/a><\/p>\n<p>\u2014 Mason Nystrom (@masonnystrom) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/masonnystrom\/status\/1422232068923265026?ref_src=twsrc%5Etfw\">August 2, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"NFT_boom\"><\/span>NFT boom<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>OpenSea\u2019s cheerful performance surfaced amid a surprising boom in the NFT space earlier this year. <\/p>\n<p>Investors bought millions of dollars worth of unique digital collector items,\u00a0be it a photo, a meme, a music album, a basketball highlight, a collage, a tweet, a video, etc. In March,\u00a0Mike Winkelmann, known professionally as Beeple, sold an NFT for $70 million, igniting a flurry of digital collectible sales across marketplaces such as OpenSea and Rarible.<\/p>\n<p>In some instances, ask rates for blockchain-based NFTs <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/mashable.com\/article\/picasso-nft\" data-amp=\"https:\/\/mashable-com.cdn.ampproject.org\/c\/s\/mashable.com\/article\/picasso-nft?amp\">representing paintings of\u00a0Picasso and Monet<\/a> matched the prices of the physical artwork. As of late,\u00a0CryptoPunks have attracted the most investments in the NFT space, nearly $207 million in sales in just one week.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Dang, these punks are valuable. One sneaky buyer paid an Ethereum miner 22 ETH to apparently prioritize their bid for one CryptoPunk in particular. https:\/\/t.co\/Mz2HLbj6qK<\/p>\n<p>\u2014 Cointelegraph (@Cointelegraph) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Cointelegraph\/status\/1423082577351651329?ref_src=twsrc%5Etfw\">August 5, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Blockchain-based gaming platform Axie Infinity, which enables the sale, purchase and breeding of digital pets (NFTs again), had\u00a0witnessed a record 6,500% revenue growth by the end of July. While Stoner Cats, an animated show about cannabis-smoking cats, sold its collection of NFTs for around $9 million.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Sales_are_up_but_active_wallets_matter\"><\/span>Sales are up, but active wallets matter<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Research platform Dune Analytics noted the total sales volume for NFTs increased to $2.5 billion in the first half of 2021 compared to $13.7 million in the first half of 2020.<\/p>\n<p>OpenSea\u2019s average daily fee revenue in 2021 was $4.2 million, about 7% higher than decentralized exchange service Uniswap.\u00a0In June, it posted a record $150 million in crypto collectible sales.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/1102de8c-d684-4825-952e-f914fb07c2b2.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>OpenSea NFT sales in recent months. Source: OpenSea, CryptoArt, Dune Analytics<\/em><\/figcaption><\/figure>\n<p>The NFT boom witnessed in the first and second quarter of 2021 saw about 60,000 new wallets interacting with NFTs, data on NunFungible.com shows. <\/p>\n<p>The data tracking service <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/nonfungible.com\/blog\/nft-ecosystem-look-like-after-the-boom\">noted<\/a> that more than 45,000 new wallets engaged with crypto collectible services in May and June alone. It added that despite the dip in sales in April and early May, the number of active NFT wallets increased from 3,107 (January to February 2021) to\u00a06,418 (March to April 2021).<\/p>\n<p><strong><em>Related:\u00a0Are NFTs being used for money laundering? Yes, they are, claims Mr. Whale<\/em><\/strong><\/p>\n<p>\u201cThis indicates a good proportion of new users who became interested in NFTs at the very beginning of the 2021 hype then remained active over the following months,\u201d the NonFungible report read, adding:<\/p>\n<blockquote><p>\u201cThe USD indicator is certainly always interesting to observe but looking more deeply at the number of active wallets and especially new wallets gives much more precise indications on the state of the NFT market.\u201d<\/p><\/blockquote>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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DappRadar data shows that the total incoming value to OpenSea\u2019s smart contracts increased to $56.07 million on Wednesday compared to $73,556 on Jan. 1. Meanwhile, the marketplace\u2019s user&#8230;<\/p>\n","protected":false},"author":1,"featured_media":323804,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvYzEyMWUzOWYtNTRlNy00NDdmLWIzYWUtZGIwZTkzODlkNTdkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,112673,91083,76177,110404,74939,75679,75150,95118,75434,116,73785],"class_list":["post-323803","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-blockchain-cuties","tag-blockchain-game","tag-blockchain-storage","tag-cointelegraph-nft","tag-market-analysis","tag-market-capitalization","tag-market-update","tag-nft","tag-smart-contracts","tag-art","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/323803","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=323803"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/323803\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/323804"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=323803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=323803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=323803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}