- OpenSea NFT sales volume has fallen more than 40% since the beginning of April.
- Blur’s market share of NFT sales volume continues to increase.
OpenSea, the leading non-fungible token (NFT) marketplace, is set to close April with a record drop in monthly NFT sales volume.
According to data from Dune Analytics panel Prepared by Rchen8, this month, NFT sales on the market reached $82 million, marking their lowest level since September 2023.
Since the beginning of the year, monthly NFT sales activity on OpenSea has steadily declined. After witnessing a year-to-date (YTD) high of $153 million in monthly volume in February, OpenSea has since recorded a month-over-month decline in sales.
Source: Dune Analysis
This drop is mainly due to the decrease in user activity in the market. So far this month, OpenSea active users have totaled 63,339. This marks a 22% drop from the 80,727 users who completed at least one transaction on the market in March.
Assessed to date, the number of monthly active users has fallen 48%, according to the Dune Analytics dashboard.
Due to the drop in the number of active users on the market in April, the monthly count of NFTs sold on OpenSea has plummeted to its lowest level so far this year.
In the last 25 days, 110,000 NFTs have been sold on Opensea, the lowest monthly figure since June 2021.
With low user activity and sales volume on OpenSea this month, the platform’s monthly fees derived from primary transactions and royalties have also decreased.
In the last 25 days, primary transaction fees totaled $2.8 million and royalty fees totaled $1.9 million.
Blur takes the lead
Despite having fewer users than OpenSea, the NFT marketplace and the Blur aggregator [BLUR] has continued to register a higher volume of operations.
According to a Dune Analytics dashboard prepared by Hildoby, 79% of all NFT transactions completed in the last week alone were made on Blur. OpenSea followed with a market volume of 21.3%.
This occurred despite OpenSea’s active user count surpassing Blur’s by 24% during that period.
However, Blur merchants were able to execute 56% of all NFT sales transactions, while OpenSea users were only able to account for 44.2% of all completed transactions.
Next: New EU MiCA crypto regulations: What has changed and why?
This is an automatic translation of our English version.
