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The world’s largest NFT trading marketplace, OPENSEA daily trading volume crossed $200 Million on 24th August, according to Dune Analytics. OpenSea Record-breaking single-day trading volume spree started 4 days ago with $125 Million on 21st August.
According to Dune Analytics, on August 24, OpenSea's single-day trading volume exceeded a new high of 200 million US dollars yesterday. pic.twitter.com/kFNqWHN14p
— Wu Blockchain (@WuBlockchain) August 25, 2021
The NFT marketplace has been on a constant and rapid rise in the month of August. It has sold over 1 million tokens, with an exceptional monthly fee figure of more than $140 Million, and currently amounts to beyond 160,000 active traders in merely one months’ span, according to Dune analytics.
“Since August 21, the single-day trading volume has exceeded 100 million US dollars for four consecutive days. In addition, the number of registered users who have traded at least once in OpenSea exceeds 278,000.”, tweeted Chinese Journalist, Colin Wu.
OpenSea’s Consistent NFT trading volume growth since June
The peer-to-peer non-fungible token (NFT) marketplace saw a similar growth pattern in its June to July transition. It skyrocketed from 90.5 percent ETH transfers in June to 96.3 percent in July. The company experienced an extraordinary market share value of over 90 percent, placing it at the top of the NFT marketplace in July, a position OpenSea has maintained in August.
NFT popularity has soared in the digital market sphere in the past few months. It is seeing a sudden rise in sales volume, especially during the ongoing second quarter. However, even the beginning of this year saw a massive $2.5 billion in NFT sales, as compared to minimal sales of $13.7 million during the first half of 2020.
The growth of the NFT frenzy is spreading like wildfire to all market spheres. From traditional auction houses, multi-million-dollar art galleries, commercial brands like Coca-Cola; to Sports legends, Social media giants like Facebook, and Hollywood studios such as Marvels Entertainment, everyone has begun NFT offerings.
“New technologies, in particular blockchain, have opened a new chapter in the development of the art market, led by the ownership and the guarantee of this ownership…This is an important stage in the development of the relationship between person and money, person and thing.”, – said the General Director of the Hermitage Mikhail Borisovich Piotrovsky.
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