OKX NFT marketplace overtakes OpenSea and Blur in trading volume

The daily trading volume of the OKX non-fungible tokens (NFT) marketplace has surpassed market leaders Blur and Magic Eden.

On Dec. 18, the trading platform’s indicator was $45.31 million putting it in front of Blur, Magic Eden, UnitSat and OpenSea in terms of trading volume.

The growth of the OKX platform is due to an increase in the trading volume of Bitcoin (BTC) NFTs.

On Dec. 15, the crypto exchange listed SATS, a BRC-20 standard token, an asset that competitors like OpenSea and Blur do not yet support.

Blur daily trading volume topped out at $13.48 million, while Magic Eden took third-place with $7.63 million followed by UniSat with $3.3 million.

From Dec. 10 to 17, trading volume on OKX surpassed $305.44 million; the week earlier, it was $121.28 million, according to CryptoSlam. The NFT trading volume on Ethereum (ETH), by contrast, reached $93.45 million during that same period. While on Solana — the blockchain witnessing a surge in NFT activity as of late — hit $90.74 million.

In December, Ordinals tokens overloaded the BTC-20 network five times, causing transferring fees to jump. Transfer fees hit a record high of $37 per transaction this past May.