Blur Market Outperforms OpenSea in Trading Volume
On February 22, according to data from Dune Analytics, the trading volume of Blur market in the past week was nearly $390 million, more than four times that of…
On February 22, according to data from Dune Analytics, the trading volume of Blur market in the past week was nearly $390 million, more than four times that of OpenSea in the same period ($89 million). In addition, the number of orders concluded by Blur last week (285000) was only slightly higher than that of OpenSea (258000), and the number of users of OpenSea last week (136000) was still significantly higher than that of Blur (83000).
Data: Blur’s market share exceeded OpenSea by four times last week
Interpretation of the news:
The emergence of non-fungible tokens (NFTs) has opened up a new frontier for investors and enthusiasts alike. In this dynamic industry, two prominent players have emerged – Blur Market and OpenSea. While both have been vying for dominance, a recent development has tipped the scales in favor of Blur Market.
According to data from Dune Analytics, the past week saw Blur Market reach a trading volume of nearly $390 million, which is more than four times that of OpenSea in the same period. This is indicative of the fact that traders are increasingly turning to Blur Market for their NFT purchases.
Despite having a lower trading volume, OpenSea’s number of completed orders was not too far off from Blur Market, with 258,000 orders in the past week compared to Blur Market’s 285,000. This suggests that OpenSea is still a popular choice for NFT buyers even though they are not trading as much as Blur Market.
The number of users of OpenSea in the past week was significantly higher than that of Blur Market, with 136,000 users compared to Blur Market’s 83,000. This is an interesting trend, and it shows that OpenSea has a more extensive and loyal following, which could explain why they are still attracting a significant number of orders despite falling behind in trading volume.
It’s worth noting that this surge in trading volume for Blur Market coincided with a few high-profile NFT sales, including the “Death Dip” collection from artist Trevor Jones and the Tim Burton-inspired “Wonderland” collection from artist Tom Bates. These sales likely contributed to the boost in trading volume for Blur Market.
In conclusion, this data from Dune Analytics underscores the dynamic and ever-changing nature of the NFT market. While OpenSea still commands a larger user base, Blur Market has overtaken them in terms of trading volume. This is a significant development in the NFT industry and highlights the growing importance of platforms like Blur Market in facilitating NFT transactions.
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