Blur Dominates the NFT Market with Over 77% Market Share
It is reported that according to the data compiled by user @ hildoby in Dune, the market share of Blur transactions in the NFT market in the past week exceeded…
It is reported that according to the data compiled by user @ hildoby in Dune, the market share of Blur transactions in the NFT market in the past week exceeded 77%, with a total transaction amount of about 390 million US dollars, accounting for more than 50% of the total number of transactions, totaling 275479. In contrast, OpenSea accounted for 16.7% and 40.8% respectively. However, in terms of the number of trading addresses, the number of OpenSea is much higher than that of Blur.
In the past week, the market share of Blur trading volume exceeded 77% and the number of transactions exceeded 50%
Interpretation of the news:
The world of cryptocurrencies has witnessed a surge in interest lately, with non-fungible tokens (NFT) gaining significant attention from investors, artists, and collectors alike. An NFT is a cryptographic asset that represents ownership of a unique virtual asset. While NFTs come in various forms, the most common ones are digital art, music, and videos.
Recently, it has been reported that among the NFT marketplaces, Blur has emerged as the market leader with an impressive market share of over 77%. According to data compiled by user @hildoby in Dune, the total transaction volume for Blur in the past week amounted to approximately 390 million US dollars, surpassing all other NFT marketplaces. This accounts for more than 50% of the total number of transactions, which is approximately 275,479.
OpenSea, another popular NFT marketplace, accounted for only 16.7% of the market share, lagging far behind Blur. However, in terms of the number of trading addresses, OpenSea recorded a much higher number than Blur. This could mean that OpenSea has a wider pool of users, but Blur emerges as the market leader in terms of trading volume.
The domination of Blur in the NFT market can be attributed to several factors. Firstly, Blur has focused on attracting high-end collectors who are willing to invest large sums of money in rare and unique digital assets. Additionally, they have worked to cater to the needs of artists, providing them with greater control and ownership of their intellectual property. Lastly, the platform has established itself as a trustworthy and reputable marketplace, with a stringent verification process that ensures authenticity and reduces the possibility of fraud.
In conclusion, the NFT market is an ever-evolving landscape that is experiencing rapid growth. The dominance of Blur in the past week reflects the growing trend of NFTs, and the increasing demand by collectors and investors for unique digital assets. It will be interesting to observe how the market evolves and how other marketplaces may respond to Blur’s growing market share.
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