OpenSea’s Trading Volume Is Still on Track to Surpass Its All-Time

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OpenSea, today’s most prominent marketplace for nonfungible tokens, or NFTs, is reportedly still well on its way to surpassing its previous record for NFT trading volume of $3.5 billion by the end of January despite the overall crypto market experiencing a noteworthy decline.

As per the analytics report published by Dune Analytics, in the first 10 days of the new year, OpenSea’s NFT trading volume has already amassed over $2.1 billion. This is more than 50% of the total trading volume it recorded for the whole month of August last year when the platform recorded the all-time high figure mentioned above. Suppose the particular trend persists throughout the month. In that case, experts believe that the trading volume for the marketplace for January 2022 could exceed $6 billion – about 2 times the previous record.

OpenSea may also break its record for the total active users who have made at least one transaction this month, says Dune Analytics. As of press time, the figure already sits at about 260,369 – rapidly approaching the all-time high record for the particular metric at 362,679 set last December.

Contrary to the decline the crypto space experienced since the beginning of 2022, NFT markets have enjoyed a significant resurgence in popularity and interest. Almost all platforms currently tracked by NonFungible.com, an NFT market data aggregator, showed steady increases since the start of the year.

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