OpenSea surpasses $3.5B in monthly Ether trading volume setting new ATH

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OpenSea surpasses $3.5B in monthly Ether trading volume setting new ATH
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With 2 even more weeks left in January, nonfungible token (NFT) market OpenSea has actually seen its monthly profession volume in Ether (ETH) go beyond $3.5 billion for the very first time ever before.

According to information from Dune Analytics, OpenSea has actually currently exceeded the all-time high of $3.42 billion collection in August 2021 to develop a new all-time high, going beyond the $3.5 billion mark in Ether trading volume.

OpenSea’s record-high volume on Sunday, according to Dune Analytics, was $261 million. Thus much in January, OpenSea has actually damaged $169 million in trading volume for every day.

The rise in NFT profession volume seems sustained by the rate boost in Bored Ape Yacht Club (BAYC) and also its brother or sister collections, Mutant Ape Yacht Club (MAYC) and also Bored Ape Kennel Club (BAKC). BAYC, which has a multitude of celeb proprietors, is still one of the most prominent NFT collection on OpenSea, with 14,306 ETH (almost $47 million in present market price) traded over the last 1 day.

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OpenSea introduced a $300 million Series C funding round early this year, led by financial backing companies Paradigm and also Coatue. The fresh cash money brought the company’s appraisal to $13.3 billion, with the objective of utilizing it for item renovation and also improving staff member numbers.

Related: NFT sales and also blockchain video games remain to expand regardless of the current market depression: Report

New gamers are quickly pushing on on OpenSea, nevertheless, and also one remarkable rival is LooksRare — a new NFT market introduced previously this month that is currently surpassing OpenSea in regards to trading quantities, according to Dune Analytics’ information. However, according to very early records, the system seems overruning with laundry trading to gear the token-based incentives system.

In various other information, Sultan Gustaf Al Ghozali, a 22-year-old computer technology pupil from Semarang, Indonesia, ended up being a millionaire by transforming 1,000 selfies right into NFTs and also offering them on Opensea.



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