OpenSea Dominates NFT Market with 71.5% Share Hike – Thanks to SEA Token Hype!
OpenSea has made a significant resurgence, capturing 71.5% of the Ethereum NFT market share within the last week.
Just a month ago, its market share was at 25.5%, with Blur leading the sector. According to The Block, this increase aligns with OpenSea's long-anticipated announcement of its native token, SEA, scheduled for February 13.
Following the token announcement, OpenSea's daily trading volume has surged, averaging $17.4 million, which is nearly five times higher than its pre-announcement average of $3.47 million.
The daily transaction count has also more than doubled, rising from 6,100 to 14,700 trades. Most of this growth occurred in the past week, as OpenSea's market share jumped from 42.4% to 71.5%, primarily at the expense of Blur.
Despite this positive momentum, OpenS...