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Analysis Shows OpenSea Pro Upgrade Leads to Surge in Active Addresses and Trading Volume

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According to reports, according to Dune data, there has been a significant increase in active addresses and transaction volume this week since the Gem v2 brand was upgraded to Open

Analysis Shows OpenSea Pro Upgrade Leads to Surge in Active Addresses and Trading Volume

According to reports, according to Dune data, there has been a significant increase in active addresses and transaction volume this week since the Gem v2 brand was upgraded to OpenSea Pro. According to Dune’s data, the daily new addresses on OpenSea Pro soared to over 1800 after brand upgrades, and then fell back to 1000. Active addresses also soar to over 3500 every day, and have been hovering below 3000 ever since. The daily trading volume also surged, exceeding $3 million at one point, leading Blur for two consecutive days on April 5th and 6th, and has since hovered above $2.5 million.

Data: OpenSea Pro’s trading volume exceeded Blur for two consecutive days

As per reports derived from Dune data, OpenSea Pro’s brand upgrade to Gem v2 has led to a dramatic surge in active addresses and transaction volume in the past few days. Daily new addresses on OpenSea Pro soared to over 1800 following the upgrades before falling back to around 1000, while active addresses have surged to over 3500 every day, hovering below 3000 only before the upgrades. Additionally, the daily trading volume also skyrocketed, surpassing $3 million at one point and outweighed Blur for two consecutive days on April 5th and 6th, and has since remained above $2.5 million.

Background

OpenSea is a digital marketplace founded in 2017 for buying and selling rare and unique digital assets such as crypto collectibles, gaming assets, cryptocurrencies, domain names, and others. The platform has its fundamental currency Ether (ETH) and boasts of over four million items and four hundred thousand monthly active users. In the past three years, the platform has earned over $1.7 billion of trading volume, with the past month alone generating over $95 million worth of transactions.

The Upgrade

On April 5th, OpenSea Pro received an upgrade and successfully launched its Gem v2 NFT platform. The upgrade enhanced the platform’s quality by adding features such as real-time price analytics, advanced order sorting, and a sleek, modern UI design. Additionally, it came equipped with OpenSea’s off-chain scaling solution and several other updates, which aimed to provide users with a more seamless and efficient experience.

The Effects of The Upgrade

The launch of Gem v2 was a hit among OpenSea users, as daily new addresses soared to over 1800 following the upgrades before falling back to an average of 1000. The brand upgrades led to active addresses surging to over 3500 daily, with the trading volume skyrocketing to over $3 million at one point. It even outweighed its competitor Blur for two consecutive days on April 5th and 6th, holding strong at over $2.5 million. The upgrade and the subsequent surge prove the effectiveness and significance of providing seamless platforms with a better user experience.

Conclusion

OpenSea Pro’s brand upgrade to Gem v2 has yielded significant returns in a matter of days. Daily new addresses, active addresses, and transaction volumes are all soaring, and the platform has outperformed its competitors. The upgrades have enhanced the value of OpenSea Pro significantly and are a testament to the importance of consistent updates and providing an optimal user experience.

FAQs

1. What is OpenSea Pro?

OpenSea Pro is a digital marketplace for buying and selling rare and unique digital assets such as crypto collectibles, gaming assets, cryptocurrencies, domain names, and others.

2. What were the upgrades in Gem v2 in OpenSea Pro?

The upgrades in Gem v2 enhanced OpenSea Pro’s quality by adding features such as real-time price analytics, advanced order sorting, a sleek, modern UI design, and OpenSea’s off-chain scaling solution.

3. What is the daily average trading volume of OpenSea Pro post-upgrade?

The daily trading volume of OpenSea Pro has hovered above $2.5 million since the upgrades, with the record high being $3 million.

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