Blur accounts for nearly 80% of NFT trading volume as market activity surges.
The NFT market has seen a surge in activity over the past month, with most of the increase in trading volume coming from NFTs. blur 
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Ethereum-based NFT transactions hit $605 million in November, according to The Block’s data dashboard. This represents an increase of almost 100% compared to October’s monthly volume of $306 million.
Just four days into December, NFT trading volume for the month has already reached nearly $90 million, with nearly $70 million coming from transactions on the Blur NFT Marketplace.
Switch from OpenSea
Since February of this year, there has been a noticeable shift in market share from OpenSea to Blur in the NFT sector, with the latter market currently dominating nearly 80% of the total transaction volume in the Ethereum-based NFT market. OpenSea, the once dominant NFT marketplace, has given way and now holds only about 17% of NFT volume.
The Solana-powered NFT marketplace also saw an increase in trading volume, with daily trading volume increasing from November to December, according to The Block’s data dashboard. On November 30, the total trading volume of the Solana-based NFT market was $9.3 million, the highest since April of this year. The majority of this volume was in Tensor, with a daily volume of over $5 million.
Launched in October 2022, Blur is a free NFT marketplace designed to meet the needs of professional NFT traders.
Disclaimer: Larry Cermak, CEO of The Block, is an angel investor in Blur.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
