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Category: CRYPTO NEWS
The post OpenSea Reclaims NFT Crown Despite Market Slowdown appeared on BitcoinEthereumNews.com. OpenSea also attracted almost 70% of active NFT wallets, according to NFTScan. This resurgence happened after the launch of OpenSea’s revamped OS2 platform, hints at a native SEA token, and the favorable resolution of a past SEC investigation. Meanwhile, Polygon NFTs recently turned a few heads by overtaking Ethereum in weekly sales volume, largely thanks to the success of the Courtyard RWA collection. However, not all projects fared well. RTFKT’s CloneX NFTs faced a major disruption after Cloudflare restricted access to their content, sparking backlash among holders. RTFKT’s leadership has since promised to decentralize CloneX through Arweave. For now, it seems like the broader NFT sector is still under pressure, with several marketplaces, including Bybit and GameStop, shutting down. OpenSea Surges Back to the Top OpenSea reclaimed its position as the leading non-fungible token (NFT) marketplace, despite a broader decline in the overall NFT market. According to NFTScan, OpenSea has commanded more than 40% of the trading volume across NFT platforms in the past 30 days. This allowed it to outpace its closest rival Blur, which holds 23% of the market share. Magic Eden and OKX NFTs trail behind with 7.69% and 5% shares, respectively. NFT marketplace volumes and distribution (Source: NFTScan) User engagement data also reflects OpenSea’s resurgence. Almost 70% of wallets transacting with NFTs in the last month interacted with OpenSea, totaling more than 610,000 wallets. Over a three-month period, this figure surpassed 2.1 million. In stark contrast, Magic Eden, Blur, and OKX NFT together attracted only 103,000 wallets in the past month and a combined 380,000 over the last three months. 30 day wallet distribution (Source: NFTScan) The platform’s renewed dominance happened after certain strategic developments. In late 2024, OpenSea launched its revamped marketplace OS2, after a beta phase that culminated in a public release on Feb. 13,…
2025-04-25T13:45:07+00:00
https://bitcoinethereumnews.com/nft/opensea-reclaims-nft-crown-despite-market-slowdown/?utm_source=rss&utm_medium=rss&utm_campaign=opensea-reclaims-nft-crown-despite-market-slowdown