NFT marketplace Blur outperforms OpenSea in trading volume

NFT marketplace Blur outperforms OpenSea in trading volume

Blur is outperforming OpenSea in NFT trade activities, including trading volume, despite having fewer traders than the latter.

Blur NFT marketplace is continuously topping charts regarding NFT trading volume, pushing OpenSea, the world’s largest NFT marketplace, to second place. Despite its recent debut in October, Blur has scooped the lion’s share of the total NFT volume traded across all marketplaces. As of writing this, Blur currently accounts for 46% of the total weekly trading volume compared to its biggest competitor OpenSea, which presently has 36% only. 

NFT marketplace Blur outperforms OpenSea in trading volume - 1
NFT marketplaces’ weekly volume market share. Source: Dune Analytics

Data from Dune analytics, a blockchain data provider, depicts that Blur has dominated the NFT sector’s trading volume since the beginning of February, with roughly around $14.3 million traded on the platform daily.

OpenSea only boasts $11.3 million, again trailing in second place behind Blur. Still, it is the largest marketplace compared to the other industry players, including Blur. Despite being second in terms of trading volume, OpenSea leads the pack in the number of weekly trades. As of yesterday, on-chain data reveals that OpenSea housed 29,600 transactions compared to Blur, which saw only 12,601 trades.

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Daily NFT trades on various marketplaces. Source: Dune analytics

Blur bidding pools surge to all-time highs

Blur NFT marketplace raised 11 million dollars in its early stages of development. Since then, the platform’s bidding pools have skyrocketed to all-time highs of $42 million.

Blur has been in the headlines since last year. On Dec. 8, a Twitter user going by Keungz lost 70 ETH, approximately $83,000 at the time, using the platform’s bidding system. After operating his digital assets while exhausted, the user thought the incident was his fault. However, the tragedy was later linked to the platform’s new bidding system. Blur refunded 50% of the lost amount to the individual.

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