On the NFT marketplace Blur, approximately 80% of the total trading volume is accounted for by non-fungible tokens (NFTs), while OpenSea's figure has decreased to around 17%. These statistics were presented by The Block.
Blur has strengthened its position thanks to increased user activity, which began in November.
According to the information from the publication, the total NFT trading volume on the Ethereum-based platform amounted to $605 million last month. For comparison, in October, this figure was $306 million.
Since the beginning of December (from December 1st to 4th), the metric has already reached approximately $90 million, with around $70 million attributed to Blur.
The change in leadership in the field became noticeable since February of this year. Almost 97% of the trading volume is between Blur and OpenSea.
Activity on NFT marketplaces operating on the Solana blockchain has significantly increased. On November 30th, the daily trading volume reached its highest levels since April 2023, amounting to $9.3 million USD. A significant portion of this amount was attributed to the Tensor project, which processed transactions worth $5 million.
On November 24th, Binance added the Blur (BLUR) token of the NFT marketplace to the list of assets available for trading, providing pairs with Bitcoin, USDT, and the Turkish Lira. Noticeable positive price movement was recorded both before and after this event, largely driven by the interest generated by the completion of the project's second airdrop phase, which ended on November 21st.
In addition, the launch of the native yield Layer 2 (L2) protocol called Blast by NFT platform developers could also have influenced the BLUR price. By November 25th, the total value locked (TVL) in the project reached $443 million.
Comments