• 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 / Archives for OpenSea

OpenSea

Ethereum Reaches New High With 3040 ETH Burn, Led by Uniswap & OpenSea

February 3, 2023 by Mishal Ali

Ethereum is blazing a new trail in the world of cryptocurrencies, reaching a high of 3040 on February 2nd. It marks the highest point since November 10th, 2022, and solidifies its place as one of the top players in the game.

The primary sources fueling this fiery surge are two popular decentralized exchanges, Uniswap and OpenSea. Both platforms have seen a significant increase in usage and transactions, leading to a corresponding rise in the value of Ethereum.

image 16

Additionally, as the demand for Ethereum continues to grow, so too does the cryptocurrency greed index, which has hovered around 60 for several days. It indicates a high level of excitement and anticipation in the market as investors scramble to get a piece of the action.

However, the burning of ETH is a key metric in the world of cryptocurrency and is being closely watched by those in the know. This latest record high burn is just another example of how Ethereum is making waves in the market and solidifying its place as a leading cryptocurrency.

Ethereum Developers Set Sights On Upgraded Mainnet Launch In Mid-March

The Ethereum community was excited as developers gathered for a conference call on February 2nd to discuss the latest developments in the Ethereum network. 

According to Christine Kim’s blog, the conference call pointed out that assuming all public testnets of the Shanghai upgrade go smoothly, developers are expected to activate the upgraded mainnet in mid-March.

The Shanghai upgrade is a highly anticipated event in the Ethereum community. It will bring several important changes to the network, including increased efficiency, reduced gas fees, and a new consensus algorithm. 

The upgrade is expected to make Ethereum more secure, scalable, and user-friendly, which will be a big boost for developers and users alike.

The conference call also discussed the progress of the Shanghai upgrade on various testnets. The Zhejiang testnet will activate the Shanghai upgrade on February 7th, followed by releases on the Sepolia testnet (mid-February) and Goerli testnet (late February and early March). 

However, the smooth activation of the upgrade on these testnets will be crucial to ensuring a successful mainnet launch.

Related Reading | India’s Retail Behemoth Set To Add CBDC Support

Filed Under: News, Altcoin News Tagged With: Ethereum (ETH), OpenSea, Shanghai Upgrade, Uniswap

NFTs Are Heating Up Again: Trading Volumes Reach Three-Month High

January 8, 2023 by Ammar Raza

WU Blockchain reported today that the NFTs market saw a significant increase in trading volume yesterday, reaching a three-month high with a single-day total of over 32,000 Ethereum (ETH). 

image 21
Source: NFTGo

On January 5th, the market capitalization of the NFT market reached a three-month high of approximately 10.23 million ETH. The previous high was seen on December 10th, when the market cap was about 9.82 million ETH. 

image 20
Source: NFTGo

The data is gathered from an NFT marketplace or analytics platform, NFTGo. Additionally, OpenSea, a major marketplace for NFTs, also experienced a two-month peak in ETH-denominated trading volume on the same day. 

However, NFTGo’s Barometer is currently at 31/100, indicating that NFT market sentiments are cool. In the last 24 hours, there have been 19,288 buyers and 19,288 Sellers.

NFTs Sales Volume in 2022 Nearly Matches 2021 Peak

According to data from DappRadar, the volume of NFT sales in 2022 almost reached the peak seen in 2021, despite declining sales and falling prices in recent months. The market generated approximately $24.7 billion in organic trading volume across blockchain platforms and marketplaces in 2022, a slight decrease from the $25.1 billion recorded in 2021. 

However, DappRadar observed a significant increase in the number of NFTs traded last year, with approximately 101 million NFT trades recorded in 2022, compared to about 58.6 million in 2021. It suggests that a larger number of NFTs were traded at lower values due to the decrease in crypto and NFT prices.

The crypto market saw significant value loss in 2022, with losses intensifying due to the collapse of Terra’s LUNA and UST and the downfall of the crypto exchange FTX. This “crypto winter” led to a decline in crypto prices and had a similar effect on the NFT market. 

image 23
Source: OpenSea

Sales of NFTs saw a boost in January as the market carried over momentum from 2021, with top marketplace OpenSea recording a record month with $5 billion in trading volume. However, trading volume decreased in the following months before a surge in late April due to the launch of NFT land plots for the metaverse game Otherside by Yuga Labs. You can also check out other NFT market moves by going to BuyNFT.

image 22
Source: OpenSea

It drove OpenSea to a single-day record for trading volume, but the market did not maintain this momentum and saw a drop in monthly volume from nearly $3.3 billion in May to just over $1 billion in June. Since then, the market has not surpassed the $1 billion mark.

Related Reading | Stringent Licensing Of Cryptocurrency Firms Immediate Necessity :French Central Bank Governor

Filed Under: News, World Tagged With: NFTGo, Nfts, OpenSea

OpenSea Seaport’s Ethereum Transactions Exceed 7 Million

January 2, 2023 by Mishal Ali

OpenSea Seaport has recorded more than 10 million transactions. The Ethereum blockchain was used for 7,986,237 of these transactions, while the Polygon network was used for the remaining 2,040,676, as reported by WU Blockchain on January 1st.

The total transaction volume of OpenSea based on the open source NFT protocol Seaport has exceeded 10 million, reaching 10,026,913 transactions, of which 7,986,237 transactions were on the Ethereum and 2,040,676 transactions were on the Polygon. https://t.co/PW7oajZ7Yq

— Wu Blockchain (@WuBlockchain) January 1, 2023

Additionally, the total volume of transactions processed through Seaport has surpassed $3.5 billion, with $3,467,892,762 worth of transactions conducted on the Ethereum blockchain and $43 million worth of transactions conducted on the Polygon network.

According to OpenSea Seaport, the top projects on Ethereum by total sales are Cypherpunk Zero, with a volume of $999,763,208 and 2,091 transactions, and Bored Ape Yacht Club, with a volume of $103,498,784 and 882 transactions. Moreover, Otherdeed for Otherside, with a volume of $78,024,081, and MutantApeYachtClub, with a volume of $69,933,796.

image
Source: Dune

OpenSea Seaport has seen significant growth in the number of unique users on the Ethereum network over time. In July 2022, there were 28,000 unique users, and by the end of the year, this number had increased to 1,125,320. According to the data, there are 1,127,172 unique users as of the current date.

image 1
Source: Dune

On the Polygon network, OpenSea Seaport has 252,600 unique users. In addition, it has processed $1,790,805 in volume and 131,561 transactions on the Polygon network in the past week.

The daily volume of tokens processed on the Polygon network includes WETH at $39,754,006, MATIC at $2,679,549, USDC at $1,498,389, and others.

image 2
Source: Dune

Ethereum (ETH) & Polygon’s Price Review

According to CoinGecko data, as of earlier today, the price of Ethereum (ETH) returns to its Key level and currently trading at $1,202.58 with a sliding increase in both daily and weekly charts.

ETHUSDT 2023 01 01 22 11 21
Source: Tradingview

While its trading volume is down by 13%, with a $2.5 billion 24-hour trading volume. If Ethereum experiences a positive reversal, it could potentially reach a resistance level of $1,220. However, if it falls below an upward trend line, it may continue a downward trend to reach support levels of $1,150 and $1,100.

Whereas Polygon (MATIC) is trading at $0.757935 with a 1% increase but a 4.6% decrease in the weekly chart. Its trading volume is also down by 6% in 24 hours. However, in order to prevent a downward trend, the bulls need to raise the price above the moving averages.

MATICUSDT 2023 01 01 22 09 53
Source: Tradingview

Related Reading |  1 Billion Ripple (XRP) Tokens’ Releases On New Year’s Day

Filed Under: News, Altcoin News Tagged With: Ethereum (ETH), OpenSea, Polygon (MATIC), Price Analysis

OpenSea Announced That it Will Enforce Creator Fees on All NFT Collections

November 10, 2022 by Goku

OpenSea, an NFT marketplace, responded to complaints from creators earlier this week by announcing it will keep imposing royalties across all collections moving forward.

On November 7, OpenSea made the announcement that they would be releasing an on-chain tool that would enable creators to impose royalties for any new releases on the platform, but they refrained from doing the same for existing collections.

The exchange stated at the time that it would be looking into options such as “allowing optional creator fees,” “enforcing off-chain fees for some subsets of collections,” and “collaborating with other on-chain enforcement options for creators.”

UPDATE: We will continue to enforce creator fees on all existing collections.
🧵⬇️

— OpenSea (@opensea) November 9, 2022

OpenSea’s decision receive criticism from the community

The announcement received a lot of criticism from the community, some of whom urged OpenSea to clarify its position because of its ambiguous messaging, and others who objected to the idea of an “optional creator fee.”

Bobby Kim, co-founder of The Hundreds, and other NFT creators announced on November 9 that they had decided not to release their upcoming NFT collection on OpenSea because they were “waiting to see if OpenSea would take a stand to preserve creator royalties for existing collections.”

image 6
OpenSea Announced That it Will Enforce Creator Fees on All NFT Collections 12

In a blog post published on November 8, the founders of Bored Ape Yacht Club (BAYC), including Wylie Aronow, Greg Solano, and Kerem Atalay, weighed in on the discussion. They said that the decision to leave OpenSea was “not great” and revealed the company’s intention “to follow the crowd and remove creator royalties for legacy collections from their platform.”

The NFT platform seems to have taken note of the complaints and announced in a tweet on November 9 that it would also “continue to enforce creator fees on all existing collections.” We were looking for your feedback, and we heard it, loud and clear, according to the platform, which said they were “awed by the passion we’ve seen from creators and collectors alike this week.”

“In short, we’re at a collective inflection point: if everyone left in this ecosystem who believes that creator fees are important to our future links arms on this, we WILL ensure that fees are durable.”

Filed Under: Industry, News Tagged With: NFT, OpenSea

Uniswap Records Highest Trading Fees But Faces Competition From OpenSea

October 17, 2022 by Saeed Ul Hassan

One of the most popular decentralized exchanges, Uniswap (UNI), records the highest number of trading fees in the last three months but was not able to turn them into revenue due to increased competition from OpenSea, the largest NFT marketplace, within the market. 

Messari, an analytics platform or a leading provider of market intelligence products that help professionals navigate cryptocurrency with ease, tweeted on October 16 that although UNI has collected an impressive amount of fees over the last three months, OpenSea has managed to generate more revenue than Uniswap.

According to the graph in the tweet, OpenSea was able to produce roughly over $600 million in revenue, while, Uniswap’s total revenue was close to $400 million.

As Messari said in the tweet:

“While both  @Uniswap and @opensea set the standard for fees generated, only one of the two, in OpenSea, sees positive revenue capture due to its take rate.”

In addition, when analyzing crypto protocols, the analytics platform stresses the importance of understanding the difference between protocol fees and protocol revenue. Messari said, “it’s crucial to understand” it. 

Drop-In Uniswap Trading Volume In Q3

Messari recently revealed in its quarterly report, aptly titled “State of Uniswap Q3 2022,” that key performance metrics for Uniswap had declined between the months of July and September.

In terms of its key performance metrics, it was discovered that the platform’s trading volume fell by 30% on a quarter-over-quarter basis (QOQ) between Q3 and Q2, from $172.80 million to $120.92 million. Its trading volume has also been continuously falling since Q4 2021. 

Moreover, the decrease in crypto market prices between July and September led to a corresponding drop in Uniswap’s liquidity provider payouts, 21.8% from Q1 to Q2 this year. They were even lower during July and September ( over 38.8%), and yearly fees have fallen by 52.9%.

Uniswap Revenues Across Times

When Uniswap initially started facilitating trades in May 2020, its trading volume was $57.8 billion. By 2021, it had grown to $681.1 billion. The protocol’s revenues were taking off in 2021. The protocol was widely adopted, and by March 2021, monthly revenues had surpassed $100 million. 

In May, they reached an all-time high of $238.4 billion, more than 61% higher than the previous quarter, according to Messari’s Q4 2021 report. However, the introduction of V3 on Arbitrum and Polygon helped it jump-start new liquidity pairings. 

Within the first month of becoming live, the amount of V3 transactions increased significantly and surpassed that of V2. V3 produced deals of $58.9 billion in Q2, the period in which it was introduced. Comparatively, the value of transactions in Q4 was $180 billion, a 205% rise.

Related Reading |  Gemini managed Holon’s crypto funds suspended by Australian regulators

Filed Under: Market Analysis Tagged With: Messari, OpenSea, Uniswap (UNI)

OpenSea Chief Financial Officer Resigns

October 10, 2022 by Goku

Brian Roberts, the chief financial officer of NFT marketplace OpenSea, has left his post after only 11 months in the position, making him the most prominent Web3 executive to leave amid the bear market.

The former CFO of ride-sharing companies Lyft and OpenSea wrote on October 7 that it was time for him to “come ashore” from the “open seas,” but he didn’t give any specifics. He did, however, say that he would continue to serve as an advisor to the firm going forward.

“I remain incredibly bullish on web3 and especially OpenSea. The company is heads down building and I assure you, the best is yet to come.”

Roberts joined OpenSea in 2021

Roberts spent seven years working for Lyft before being named the CFO of OpenSea in 2021. Additionally, he has prior work experience in corporate positions at Mircosoft and Walmart, two major American retailers.

Surojit Chatterjee, a former vice president of Google, joined Coinbase as chief product officer in 2020, and Pravjit Tiwana, a former executive at Amazon, joined Gemini as chief technology officer in January 2022. Roberts was one of many seasoned tech professionals who made the switch to Web3 over the past few years.

Growing the financial staff was one of his main duties while working at OpenSea. Roberts said in his Linkedin post. To ensure a “smooth transition,” he has reportedly been closely working with CEO Devin Finzer and VP of Strategic Finance Justin Jow, presumably implying that Jow will step up and assume the suddenly vacated CFO position.

Roberts claims that despite leaving the CFO position, he is still “extremely enthusiastic about web3.”It’s noteworthy that Roberts left OpenSea on the same day that another executive made his resignation known.

Ryan Foutty, the vice president of business development at OpenSea, also announced his resignation from the NFT company in a post on LinkedIn on October 7.

Foutty wished his “crewmates” well and stated that the firm has gone a long way since operating out of co-founder Alex Atallah’s basement.

Roberts and Foutty are only the most recent people in the cryptocurrency industry to resign or accept advisory positions amid the market slump.

The volume of NFT trading has decreased 98% from the $6.2 billion seen at the end of January to only $114.4 million.

The NFT market has also seen difficulties, including 20% employee reductions in July and sharp drops in daily trading volume.

Filed Under: News Tagged With: OpenSea

OpenSea and WMG collaborate for a greater purpose of Web3

September 30, 2022 by Aishwarya shashikumar

In a news statement on Thursday, Warner Music Group announced a partnership with the OpenSea marketplace. Through the partnership, a number of WMG artists will have a platform to grow and expand their Web3 fan bases.

Through the partnership, Warner Music artists will have first access to new OpenSea goods, increased market discoverability, and dedicated and highlighted areas of the OpenSea website for prospective NFT projects. Additionally, members of the OpenSea team will provide specialist assistance to artists to help with both the growth of their Web3 fan bases and the integration of current fan communities into the NFT environment.

Warner’s Chief Digital Officer, Oana Ruxandra, stated,

“Our collaboration with OpenSea helps to facilitate these [fan] communities by unlocking Web3 tools and resources to build opportunities for artists to establish deeper engagement, access, and ownership.”

Warner Records and Jeremy Fall’s web3 business, Probably Nothing, will collaborate to release the first NFT collection as a result of the cooperation.

‘Probably A Label’ to launch the OpenSea and WMG collaboration

‘Probably A Label’, the Web3 record label Fall formed last month with Warner Records, will release NFT Label Passes as the first Warner Music/OpenSea collaboration, according to Fall’s confirmation to local media.

The NFT Label Pass will give owners access to Probably A Label’s upcoming music releases, the ability to create and invest in community-generated, IP-backed virtual musicians, as well as the ability to attend exclusive live events like artist meet-and-greets and meals with music executives.

Basis for Probably The goal of A Label is to use Web3 technology to provide musicians and their fans the chance to reclaim their ownership rights. Fall thinks that traditional music industry giant Warner Music is proven to be a fantastic partner in that effort. Fall went on to say,

“They are the type of major label that is trying to enter the space the right way, and adapt to the current climate, what culture looks like now. They’re in favor of the artists and pushing the IP conversation forward.”

The NFT Label Pass will give owners access to Studio A and Studio B in addition to music-related benefits. These IP incubators let participants pitch projects using their ownership of specific blue-chip NFTs like Bored Apes and Cryptopunks—which the studio may choose to develop, finance, market, and cosign.

Filed Under: News, World Tagged With: OpenSea, Warner Music Group, Web3

OpenSea Is Extending Support to the Merge With Proof-of-Stake NFT Support

September 1, 2022 by Goku

Once the Merge is complete, OpenSea, the biggest NFT marketplace, intends to offer NFTs built on the proof-of-stake variant of the Ethereum blockchain.

According to The Block statistics, almost $31 billion in Ethereum-linked NFTs have been exchanged on the platform so far. The entire amount is composed of trading in NFTs supported by the current proof-of-work (PoW) Ethereum version, which surpasses the volume of trade for NFTs tied to other blockchains.

“First, and most importantly, we are committed to solely supporting NFTs on the upgraded PoS [proof-of-stake] chain.”

OpenSea wrote in a Twitter thread

1/ The Merge is coming! Here’s what we’re doing to prepare…

— OpenSea (@opensea) August 31, 2022

OpenSea doesn’t speculate on any potential forks

OpenSea wrote in the tweet that it won’t speculate on any potential forks post-merge on ETHPoW and won’t be supported on the platform.

“Beyond our commitment to supporting the upgraded PoS chain, we’ve been preparing the OpenSea product to ensure a smooth transition.”

This month, as part of The Merge, which marks the culmination of Ethereum’s shift from proof-of-work to proof-of-stake, the so-called Beacon Chain and its validators will form the core of the blockchain network.

The move will have an impact on many different crypto enterprises, and they have been putting a lot of effort into preparing. There won’t be just one phase in the Merge process.

There won’t be just one phase in the Merge process. The Bellatrix network upgrade and the Paris upgrade are two separate steps that will be completed. The last update before the integration will be the Bellatrix upgrade.

The Ropsten, Sepolia, and Goerli are just a few of the public testnets that the Ethereum testnet has traversed. The Bellatrix is described as a network improvement by the Ethereum Foundation. Additionally, Bellatrix is the final update before the merging is finished with the Paris upgrade.

The Merge is anticipated to be completed by September 20 and the implications on the ecosystem can only be analyzed post Merge.

Filed Under: Industry, News Tagged With: Merge, OpenSea, Proof of Stake

Polygon Support Added by OpenSea Along With Other Features

August 31, 2022 by Goku

The layer two scaling solution, Polygon, has been included in the Seaport protocol implementation by OpenSea, the largest NFT market by volume.

OpenSea stated in June that it was abandoning the Wyvern protocol in favor of Seaport, an open-source marketplace protocol that has been examined by Web3 security companies OpenZeppelin and Trail of Bits. At the time, OpenSea claimed switching to OpenSea would result in an annual fee savings of $460 million.

“Starting today, we will begin using Seaport for all new listings and offers on Polygon! We’re excited to start using Seaport across multiple blockchains to improve the experience for everyone on OpenSea.”

Polygon support added to beat high Ethereum fees

The latest change was done in an effort to lower the price of Ethereum gas, make signature confirmation operations easier to read, and get rid of the necessity that new users pay an initial setup fee.

OpenSea announced the introduction of the new support in a blog post, stating that they were “happy to do so” after studying Seaport’s effects for several months and gathering helpful feedback. “We will add support for Klaytn and other EVM-compatible chains as well,” the statement continued.

Using Seaport on Polygon, according to OpenSea, allows for the introduction of a number of additional features, such as no listing thresholds, collection and attribute offer multiple creator rewards, and bulk transfers.

The capability to list and purchase on OpenSea using the Polygon network’s native token, MATIC, maybe the most significant new feature.

“As part of the shift to Seaport, OpenSea now supports using MATIC, Polygon’s native token, as a payment option. Anyone transacting on Polygon using OpenSea will now be required to pay for their own gas fees for transacting using MATIC.”

Other features include English and Dutch auctions, purchasing for another wallet, and native token support. etc.

Filed Under: Industry, News Tagged With: MATIC, NFT, OpenSea, Polygon

NFT Marketplace OpenSea Hit by a Major Email Data Breach

June 30, 2022 by Goku

The biggest nonfungible tokens (NFT) marketplace in the world, OpenSea, has issued a warning to users after learning that a Customer.io employee may have sent the list of NFT market users’ email addresses to a third party while working on the platform for handling email newsletters and campaigns.

The problem has an effect on all users who have given the marketplace their email addresses, either for the platform or its newsletter. OpenSea warned consumers about potential phishing efforts after the hack.

On Thursday, the NFT market said that it had spoken to law authorities about the incident and that a probe was ongoing.

An employee of our email vendor, https://t.co/6vM4WAcJal, misused their employee access to download & share email addresses with an unauthorized external party.

Email addresses provided to OpenSea by users or newsletter subscribers were impacted.https://t.co/Osb6qqkqZZ

— OpenSea (@opensea) June 30, 2022

OpenSea has been quite vulnerable to breaches and attacks

OpenSea’s recent data leak is far from the first significant attack this year on the marketplace and its subscribers. In May, the popular NFT marketplace’s Discord server was breached, leading to a flurry of phishing attempts. Various users’ wallets were in fact abused.

The platform had one of its most serious attacks to date in January, during which a vulnerability permitted hackers to sell NFTs without authorization. The market covered losses of $1.8 million.

Customer.io rival Hubspot was breached in March, revealing users’ identities, contact information, and email addresses on BlockFi, Swan Bitcoin, NYDIG, and Circle. Names, phone numbers, and email addresses of users of various sites were disclosed to an unauthorized person.

Hackers may try to contact NFT market clients by sending emails from names that resemble OpenSea.io or OpenSea.xyz, according to a warning from the NFT market. Twitter users have noted an upsurge in spam emails, texts, and phone calls.

Inquiring as to whether the outside party received the list of email addresses or whether they also received the list of associated blockchain addresses, renowned cryptocurrency whistleblower Fatman Terra questioned.

An NFT marketplace staff responded by saying that Customer.io did not have access to the user’s wallet address.

Filed Under: Crypto Scam, Cyber Security Tagged With: NFT, OpenSea

  • Go to page 1
  • Go to page 2
  • Go to page 3
  • Go to Next Page »

Primary Sidebar

Recent Posts

  • Alameda Wallets Spark Controversy with Million-Dollar Crypto Transfers: Report February 9, 2023
  • Orbeon Protocol (ORBN) Set To Explode by 6000% After Presale Concludes: Here’s Why February 9, 2023
  • Solana Price Spikes As Brave Announces dApp Support February 8, 2023
  • Losses Still Occurring With Cardano (ADA) And Litecoin (LTC), Orbeon Protocol (ORBN) Rallies 1400% February 8, 2023
  • Shiba Inu Burn Rate Soars Beyond 10,000%: Here’s What It Could Mean February 8, 2023

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 © 2023 · 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.