NFT Heavyweight OpenSea Hits $1 Billion in Trading Volume in August
Devin Finzer, CEO and co-founder of OpenSea, a mainstream marketplace for non-fungible tokens, shares the statistics of its jaw-dropping trading volume in August.
$1 billion for the segment leader
According to the latest announcement shared by Mr. Finzer in his Twitter account, his Ethereum-based marketplace OpenSea registered a record-breaking trading volume of $1 billion in August.
OpenSea just hit $1B in trading volume for the month of August so far.
And it's still day 0 for NFTs.— Devin Finzer (dfinzer.eth) (@dfinzer) August 17, 2021Dogecoin (DOGE) Begins $1 Wave Surge, Bitcoin's (BTC) Trouble at $100,000: Details, Solana (SOL) to Get Tested in 3 DaysCrypto Market Hit by $500 Million Liquidation Tsunami as XRP Plunges 10%10 Reasons Why Stellar (XLM) Is Most Underrated Crypto by XRP and Ripple Co-CreatorElon Musk Reacts to Jim Cramer 'Causing' Bitcoin (BTC) Price Reversal
He admitted that, despite this massive accomplishment, NFT markets are still taking their first baby steps.
According to data shared by DappRadar analytical platform, Aug. 14, 2021 was a record-breaking trading day for OpenSea. Almost 25,000 users authorized 79,800 transactions with a net value over $75 million.
In the past 30 days, OpenSea processed $1.24 billion in trading volume, witnessing an eye-watering increase of 935.4% compared to the previous period.
NFTs are on fire again
In July, OpenSea secured $100 million in funding led by top-notch VC Andreessen Horowitz; its valuation rocketed to $1.5 billion.
Alex DovbnyaInterest in non-fungible tokens started making headlines again. Price rallies of the tokens of the top NFT-centric projects reflect this trend perfectly.
For instance, AXS coin of Axie Infinity gamified metaverse spiked from $18.7 to $73 in less than three weeks.
Arman Shirinyan
Alex Dovbnya
Dan Burgin