SNEAK PEEK
- OpenSea has got a tough fight in daily trading volume from the rapidly growing NFT marketplace Blur.
- Wallets interacting with OpenSea are twice the number of wallets on Blur, which isn’t a large difference.
- Though Blur’s trading volume is higher than OpenSea, it is still behind the latter in weekly trading volume.
The daily Ethereum trading volume of Blur overtook OpenSea on February 15. The increase is associated with the launch of the BLUR token that happened a day before, i.e. on February 14. The native token has led to a rise in competition between Blur and OpenSea.
On February 15, the trading volume on Blur was 6,602 ETH, whereas the trading volume on OpenSea was 5,649 ETH.
The increase in daily trading volume was followed by a blog from the marketplace to suggest creators to block non-fungible tokens listings on OpenSea so as to get hands on 100% royalties on Blur since the marketplace doesn’t charge any fee. Artists are prevented from getting royalties together on Blur and OpenSea owing to conflicting rules.
The trading volume on OpenSea per week has always remained way ahead of Blur’s. While the former’s weekly volume was at 36,608 ETH in the recent week, the latter’s was at 11,424 ETH.
Moving on, both the total sales and wallets on OpenSea are also higher than Blur.
Sales on OpenSea from February 7 to February 14 were, on average, 8.37 times higher than sales on Blur. Furthermore, total wallets on OpenSea were eight times higher than total wallets on Blur.
When it comes to sales and wallets, the gap between OpenSea and Blur is shrinking and was at its smallest on February 15. On this particular day, total sales on OpenSea were at 19,908, i.e., 1.63 times more than the entire sales on Blur, which were at 12,185.
Another noteworthy fact is the number of wallets on both of these marketplaces. Wallets interacting with OpenSea are just two times more than the ones interacting with Blur. This confirms how the competition between the #1 and #2 largest marketplaces is growing extensively.
