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Non-fungible token (NFT) marketplace OpenSea has regained its presumption arsenic the starring level for integer collectible trading, adjacent arsenic wide marketplace enactment declined.
Data tracker NFTScan shows that OpenSea has held the apical spot successful NFT marketplaces’ trading measurement for the past 30 days. According to the information site, OpenSea holds implicit 40% of the market’s trading volume, portion Blur, its largest competitor, is astatine 23%. Meanwhile, the NFT level Magic Eden has a 7.69% marketplace share, portion OKX NFTs person a 5% marketplace share.
The information tracker besides shows that successful the past month, astir 70% of the wallets transacting with NFTs engaged with OpenSea. The information shows that implicit 610,000 wallets opted to usage OpenSea implicit its competitors. In the past 3 months, the information shows OpenSea had implicit 2.1 cardinal wallets engaging with its platform.
By comparison, wallets engaging with Magic Eden, Blur and OKX NFT lone reached a combined marketplace stock of 17%, astir 103,000 wallets. In the past 3 months, the platforms had a full of 380,000 wallets trading NFTs connected their platforms.
NFT marketplace wallet organisation data. Source: NFTScanOpenSea regained NFT dominance amid level developments
In the past 4th of 2024, OpenSea continuously promoted the launch of its caller level OS2. At the time, OpenSea co-founder and CEO Devin Finzer said they would “reimagine everything,” and that a caller mentation would travel successful December.
On Feb. 13, OpenSea launched the unfastened beta for OS2, allowing the nationalist to yet usage its level aft a play of reserved entree for backstage beta users. At the time, the NFT marketplace besides teased the launch of the project’s authoritative token, SEA.
Apart from launching a revamped NFT marketplace, the task ventured into crypto token trading.
On April 19, the level announced that it had opened its Solana trading entree for each its users, skipping a scheduled closed beta signifier constricted to 50,000 users. The caller diagnostic allows OpenSea users to commercialized Solana tokens, including fashionable memecoins similar Bonk and Ai16z.
In summation to level developments, the NFT marketplace had besides been freed from regulatory scrutiny. On Feb. 22, Finzer announced that the US Securities and Exchange Commission had dropped its investigation into the integer collectible marketplace.
Related: Polygon NFTs overtake Ethereum collectibles successful 7-day sales
NFT income dropped 61% successful the archetypal 4th of 2025
OpenSea is regaining its marketplace dominance amid a slowdown successful NFT income volumes. CryptoSlam information shows that successful Q1 2025, NFT income volumes reached $1.5 billion. This represents a 61% diminution compared to the $4.1 cardinal measurement successful the aforesaid play successful 2024.
Despite declining income volumes, immoderate metrics showed that NFTs are inactive absorbing to galore traders. CryptoSlam shows implicit 359,000 NFT buyers successful the past 7 days, a 52% summation compared to the erstwhile week.
Furthermore, contempt a measurement slowdown, immoderate collections person continuously shown signs of life. In the past 7 days, CryptoPunks surged 82% successful sales. In the past 30 days, the postulation reached astir $20 cardinal successful income volumes.
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