Cryptheory: Crypto and Internet

cryptocurrency and internet meaning, guides, learning

The volume of NFT trading on OpenSea in the new year is growing to a record high

2 min read

Less than a week after the new year, traders have already started working on the OpenSea NFT trading platform.

OpenSea starts the year strongly

According to available data, the trading volume of the platform has increased significantly since the first day of the year. To be precise, the platform has recorded more than $ 950 million in trading volume in the last five days. This number puts him in an unprecedented month.

According to the platform’s performance since the turn of the year, January 3 was the most beneficial. Company according to data at Dune Analytics recorded a huge volume of $ 255.8 million in 24-hour data.

Interestingly, this is still not a record maximum platform in a 24-hour trading volume. Previous figures show that an all-time high (ATH) of $ 322 million was recorded on August 29.

In December, OpenSea’s monthly volume exceeded $ 3.24 billion, 5.3% lower than the ATH platform in August at $ 3.42 billion.

While the steady increase in OpenSea trading volumes can be attributed to several factors, it is impossible not to mention the role of the BAYC and MAYC NFT collections designed by Yuga Labs.

This is due to the prominent position that these projects occupy on the platform. For example, MAYC is at the top of the list of all NFT projects when viewed within their seven-day volume in the secondary markets of $ 93.2 million, according to CryptoSlam. BAYC NFT closely followed with a volume of 88.4 million USD. This notorious collection has already achieved ten-figure sales after a sharp increase in 2021.

Bored Ape Yacht Club surpassed $ 1 billion in total trading volume on OpenSea

According to statistics, the collection generated a total trade volume of 298,265 ETH. With ETH trading at approximately $ 3,800 at the time of writing, this is more than $ 1.13 billion in BAYC sales.

There are ten thousand Bored Apes, divided among about six thousand holders. Some apes cost a fortune, such as Bored Ape # 9055, which was recently bought by rapper Eminem for more than $ 460,000. Other celebrities have joined the club, including NBA superstar Stephen Curry, who spent $ 180,000.

The collection is the second most popular on OpenSea, surpassed only by the CryptoPunk collection with sales of 774k ETH. However, BAYC has recorded a larger volume of trades than CryptoPunks in the last month. With growing popularity, BAYC has also secured several partnerships with established brands such as Adidas.

Axie Infinity Releases Update and Teaser Trailer for New Lands

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

Leave a Reply

Your email address will not be published. Required fields are marked *