• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / NFT marketplace OpenSea continues to break records
NFT marketplace OpenSea continues to break records

NFT marketplace OpenSea continues to break records

August 30, 2021 by Chayanika Deka

Prominent NFT marketplace OpenSea is on fire and has again broken the daily volume record with a whopping $302 million. OpenSea saw tremendous growth as it rode the NFT mania that continues to sway the market to new heights. The total incoming value to OpenSea’s rose by 516% from a mere $49 million registered at the beginning of the month.

Notably, a huge chunk of the NFT platform’s trading volume surge was observed to have happened after June 2021. As the wider cryptocurrency market resumed uptrend in August, the capital entering the marketplace’s smart contract also saw a major spike. The latest consolidation has had little effect on the figures which started to climb higher after breaking previous records.

Opensea2
NFT marketplace OpenSea continues to break records 3

As a matter of fact, since the beginning of the year, the trading volumes on the peer-to-peer non-fungible token marketplace have surged by over 12,000%, according to the latest chart compiled by DappRadar. With respect to transactions, OpenSea has processed more than 1.12k transactions as of August 29. The number of users on the platform was also at the highest level at 40.71K, increasing over 217% in the last 30 days.

Devin Fizner, Co-founder and CEO at OpenSea, had earlier spoken about the growth of OpenSea in an interview and stated,

“Our infrastructure and platform team in particular have had to deal with levels of service and website traffic that we had never handled before. All of these things have been a huge effort over the last 12 months, as we’ve gone from about $1 million in GMV to now, over $2 billion in GMV in probably one of the shortest time horizons for any consumer marketplace”

NFT marketplace wants to expand its team

OpenSea’s head had Nate Chastain recently took to Twitter and disclosed that the popular marketplace consists of only 37 staff members despite all the outrageous NFT volumes. According to the exec’s tweet, the handful of staff members are currently handling 98% of all NFT volumes.

https://twitter.com/natechastain/status/1431970803055271936

Besides, OpenSea also happens to be the largest consumer of Ethereum network fees, as per the data on EtherScan. It has produced over 22% of the total transaction fees for Ethereum in the past day alone, which totalled almost $6 million, way more than Uniswap DEX and Tether combined.

Filed Under: News Tagged With: NFT, Non-Fungible Tokens

Primary Sidebar

Recent Posts

  • Huobi co-founder to sell major stake worth over $1B? August 14, 2022
  • Ethereum rises to glory in BTC over last 8 months August 14, 2022
  • Cryptocurrency balance freeze of Vauld: Indian saga August 14, 2022
  • Vauld’s Legal Woes Mount After ED Freezes Assets Worth $46M August 12, 2022
  • XRP Rewards Programs Now In Japanese Shinsei Bank August 12, 2022

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2022 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.