Blur Reign In 60% NFT Trading Volume
Blur continues to be the biggest NFT marketplace and aggregator among Ethereum-native NFTs marketplaces, accounting for close to 60% of all trade volume on the chain, according to a recent study from Messari.
Since its premiere in October 2022, Blur has significantly increased its popularity and has surpassed OpenSea as the market leader. After its token airdrop event on February 14, it experienced a sharp rise in popularity.
Before the airdrop, Blur controlled 48% of the market’s NFT transfer volume. However, a few days following the airdrop, its proportion increased to 78%. The result was a 21% decrease in NFT transmission volume for OpenSea.
NFT trading volume on Blur has declined due to a decrease in general market interest in NFTs. However, Dune Analytics data shows that daily NFT transactions completed on Blur still exceed OpenSea. Interest in NFTs has declined, with a peak around February and a decline in market capitalization and sales volume. NFTGo reports a 46% decrease in market capitalization and a 98% drop in daily NFT sales volume. The total market capitalization of all collections has fallen by 46% in the past seven months, while sales volume has dropped by less than $5 million as of August.
(With inputs from Shikha Singh)
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