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NFT Heavyweight OpenSea Hits $1 Billion in Trading Volume in August

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Tue, 17/08/2021 - 11:21
NFT Heavyweight OpenSea Hits $1 Billion in Trading Volume in August
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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.

He admitted that, despite this massive accomplishment, NFT markets are still taking their first baby steps.

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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.

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Image by DappRadar

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.

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Interest 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.

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