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Trade volumes on OpenSea have surged nearly 950% in the last month as the NFT craze continues stronger than ever | Currency News | Financial and Business News


  • Trade volumes on NFT marketplace OpenSea have soared in the last month as the craze for non-fungible tokens continues.
  • OpenSea has done $1.22 billion (or 387,100 ETH) in volume in the past 30 days, a roughly 950% increase from the previous 30 days, per DappRadar.
  • The NFT resurgence may be a sign that animal spirits among crypto investors are reawakening, said one industry expert.
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Trade volumes on NFT marketplace OpenSea have soared in the last month as the craze for non-fungible tokens continues.

OpenSea has done $1.22 billion (or 387,100 ETH) in volume in the past 30 days, a roughly 950% increase from the previous 30 days, per DappRadar. This August, the exchange has seen nearly $800 million in volume, according to data compiled by The Block Crypto. It’s staggeringly higher than the $284 million the marketplace saw for the month of July.

Opensea’s trade volume increase comes as Ether’s price rallies. The native token behind the Ethereum blockchain is up roughly 70% over the last month and currently trades around $3,200.

Meanwhile, Opensea has seen 1.36 million transactions over the last 30 days, a 180% increase in the previous 30-day period.

The NFT resurgence may be a sign that animal spirits among speculative cryptocurrency investors are reawakening, said Paolo Ardoino, CTO of cryptocurrency exchange Bitfinex. He highlighted altcoin Solana’s impressive gain as another sign of speculation in the cryptocurrency space. The coin jumped nearly 30% to an all-time-high Monday.

Last month, OpenSea raised $100 million in Series B funding led by the high-profile venture capital firm Andreessen Horowitz, also known as a16z.



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