• 13 July, 2024
News

Daily NFT Trading Volume Boosted Thanks To Blur; Let’s Find Out What It Means?

OpenSea’s dominance in the NFT marketplace was challenged by Blur’s rapid ascent

Blur seems to be winning the war for market share in the non-fungible token (NFT) space. Blur, a leading Ethereum-based NFT Marketplace, offers shelf and floor-weeping transactions, order book NFT transactions as well to purchase NFTs from other marketplaces with instant liquidity.

On February 22, the NFT marketplace Blur overtook OpenSea in daily Ethereum trading volume according to a data analytics platform Nansen.ai. 

In February, NFT trading volumes reached $2 billion in February. The move is supposedly due to the rising popularity of the zero-fee marketplace Blur. While NFT sales, the number of tokens traded, decreased about 32% from January, trading volume, the amount of cryptocurrency transacted increased by about 120%.

Blur gains on OpneSea

OpenSea’s trading volume dominated the NFT marketplace. However, in the week ending on February 22, Blur’s trading volume overstepped OpenSea nine times to $117.7 million.

The daily trading volume, as well as the weekly trading volume of Blur, topped the OpenSea as per Dune analytics.

$Blur was launched in February on the Blur platform that spiked Ethereum NFT trading volume.

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