In Brief:
- OpenSea sets a new record by reaching $3.5B in monthly ethereum trading volume.
- OpenSea’s highest single-day volume of $261M was recorded on January 9.
- The NFT platform’s most popular collection is BAYC with 14,306 ETH traded in the last 7 days.
NFT platform OpenSea achieved a new milestone as the platform reached a record $3.5 billion in monthly Ethereum trading volume as per data from Dune Analytics.
OpenSea trading volume has now outperformed both the previous record of $3.42 billion in August of last year and the December sales volume of $3.24 billion.
In case of trading volume, the most famous NFT collection on OpenSea is Bored Ape Yacht Club, with 14,306 ETH (nearly $47 million) traded in the last 7 days.
So far in January, OpenSea’s trading volume has surpassed $169M on each day, with the highest single-day volume of $261M recorded on January 9.
With the assistance of Paradigm and Coatue, OpenSea raised $300 million in Series C funding and reached a humongous valuation of $13.3 billion two weeks back. The newly raised funds will be used to efficiently facilitate the product development, improve customer support and customer safety, meaningfully invest in the wider NFT and Web3 community, and also expand the team.
To further elevate competition, last week NFT platform LooksRare debuted with a vampire attack on OpenSea. LooksRare generated more than $110 million in Ethereum NFT trading volume upon its launch, offering serious competition to OpenSea.
